Renting with poor credit rating

barrymat

Hi all. My partner and I are currently in the process of looking for a place to rent together.

The worry I have is that my credit rating is very low, due to being an idiot when I was young. I do not however have any CCJ's on my name and am working to build up my rating.....have just joined Experien to identify exactly what my rating is. I currently live at home.

My partner has an excellent rating and has been renting on her own for 4 years without a hitch, so I'm really worried that I could stop us renting.

We are both employed full time and both earn roughly £25K each per year. We have 2K saved up for deposit etc and I have a guarantor available should I need one.

Just really interested in my chances really, I'll update this when I find out how bad it is.

Thanks for reading, look forward to hearing your advice.

Okydoky25

Honestly wouldn't worry the checks EA do are not that detailed

Murphymycat

Don't be too sure. Most EAs/Letting Agents use dedicated firms for their checks, and a part of this is getting a credit check. The EA will make their decision based on the result. They also do an affordibility check so they can be sure that the tenant can afford the rent. If you fail then your options may be, depending on the EA

Won't let you have a tenancy
Will offer you a tenancy with a guarantor, the guarantor will need to be referenced as well
Offer you a tenancy if you can pay 6 months up front.

As already stated, there are no legal requirements here, it is entirely down to the agent AND landlord

A lot will depend on how easy a property is to let and whether the agents have loads of prospective tenants on their books.

Hope this helps

Speaking with my retired ARLA letting agent hat on

jjlandlord

Murphymycat wrote: »

it is entirely down to the agent AND landlord

Agent has no say, this is a decision for the landlord.
Landlords may take advice from their agent, though.

barrymat

thanks guys, just looked at my credit report my Equifax score is 521 so pretty rubbish, but then my score using data seen by landlords is 883 which is much better, just a cas of fingers crossed I think.....there are no CCJ's showing but there are some defaults showing.

barrymat

Oh and looking at my rental application apparantly the company who does the checks is called Paragon

Okydoky25

I've rented 5 houses all with EA in 4 years with bad credit history (no ccj just debt etc) myself and husband. We have always passed. Even our last one which was by based on Husbands salary take home after I had been made redundant. I can rent a house but I can't get a credit card

barrymat

Hi again, just a quick update....I passed!! So that's alot of stress off my mind, thanks everyone for their help and advice