Credit rating for renting

essex_jim_2

Hi, I'm recently going to finish paying off a Debt Managment Plan and am also looking to rent a flat with a friend. I'm moving out of parents so have no rental history elsewhere and my credit score is poor due with late payments on loans etc.. hence the DMP.

I will be comfortable with rent payments and deposit, having no debt and a significant increase in wages in the past year means this won't be an issue at all.

But I'm just wondering what agents are looking for in credit scores? I've heard there is a slightly different credit scoring for tenants than there is for loans, credit cards etc?

Any information would be gratefully recieved, I don't really want the embarrsment of getting everything sorted with my friend to move in only to be let down on the credit score. I've heard I could pay 6 months in advance to guarantee it but that does seem alot and would mean a few more months saving.

Worriedmummy

Hello, I'm on a DMP and still have a lot to pay, multiple default notices etc and have had no problems renting.
Letting agents can only see if you are bankrupt, have and IVA or CCJ. No need to worry at all if it's just a DMP.
Good luck.

essex_jim_2

Nice one, I have none of those. Just being paranoid by the looks of it, but best to check. Thankyou again!

Worriedmummy

I was paranoid to, and know how worrying it is. If you search hard enough on here there is a post from a chap from experian who explains the difference between what money lenders can see when they do a credit check and what a letting agent can see. As a letting agent isnt giving you credit they can only really see publically available information.

barrymat

Hi, I'm in a similar situation, about to rent my first house, have a good wage and rent will be no problem, however my credit score is lousy but am not on a DMP nor do I have any CCJ's or anything on my file other than defaults