What do letting agents see on credit check?

Phoebe-

Just filling in an application form for a flat, and with the credit checks, I am just wondering what they would be able to see?

I have a 'poor' credit history according to equifax, my score is 306 I don't have any ivas, ccj or bankrupty, but I have defaulted on a loan which is now being paid off each month to a debt collectors, and have had some credit card problems in the past...would these sorts of things show up?

BitterAndTwisted

The details they can see won't be as much as a prospective lender could but they will be able to see the default

theartfullodger

Not much, especially if they get a cheap report as many we-only-care-about-profit agents do..

Ask to see a copy btw - you're entitled to it!

MonkeyDan

Letting agents will only be able to see public credit data which is:
Electoral Roll data
CCJs
Bankruptcies
Insolvencies

They won't have access to any private financial performance data, so they won't see your defaulted loan.

Tixy

At the moment letting agents can only see publicly available info on your credit report. That is CCJs / IVAs/ Bankruptcy and whether or not you are on the electoral roll.

They cannot see credit account information so won't see the default.

There are plans for this to change within the next 6months to a year (with experian at least), where they would see the credit account info.

whalster

all above are right you basicaly get the public information only to look at and like a traffic light system high medium low risk
look for a private landlord if you can find one check out local authority accredited landlords , you can buy yur own credit report too for not much from experian or a little more from private landlord directory tenant verify and many more

jimjames

I use Tenant Verify which so far has been good and reasonable costs. The details provided are as above so no detail on credit history but does give an overall score based on the info given.

Worriedmummy

Tixy wrote: »

At the moment letting agents can only see publicly available info on your credit report. That is CCJs / IVAs/ Bankruptcy and whether or not you are on the electoral roll.

They cannot see credit account information so won't see the default.

There are plans for this to change within the next 6months to a year (with experian at least), where they would see the credit account info.

Is this true? I thought that the plan was that by not paying your rent on time may start to effect your credit rating, but that lettings agents/ landlords would still only be able to see info regarding renting plus CCJs etc and NOT your entire credit file as implied here ... thats how I read it anyway, but I may be wrong???

Worriedmummy

to clarify - this is what experian posted in reply to being asked if LL and LA would be able to view full credit files:

'We've made it clear that LLs and LAs won't be able to access your credit account history data, but you will be able to give a lender permission, when you apply for credit, to incorporate your rent payment history data into your credit score.

LLs and LAs will be restricted to checking rent data and public financial data.

We already provide a referencing service for LLs and LAs but the rent data element is a manual process, ie contacting past landlords for references. What we're proposing is a much better system for them to exchange data with each other, with the option for tenants of allowing the data to strengthen their credit profiles.'

arte

The estate agent we are using asked us recent bank statements, pay slip and to me because I'm self employed even my last tax return through the credit check company they use. Is that normal? I felt it very intrusive. I'm just renting, not buying.

Worriedmummy

Hi Arte - that does tend to be normal I am affraid.

My partner is self employed and we were asked the same, but in the end they accepted us based on just my wages so that we didnt have to go through all the hassle.