how strict are rental credit checks?

Bargie

Hi,

Me and my husband have decided to separate. We are currently selling our house (hopefully exchange in a few weeks) and then we will each rent a house.

My credit file has 4 defaults (all will have dropped off by Feb next year so all are 5 years old). Bank account and mortgage all up to date.

Just wondering how I will fare on the renting credit checks? How strict are they?

Thanks

BitterAndTwisted

Depends on who is looking at them but the credit-checks aren't the be-all and end-all. What an agent or landlord will also be looking at is affordability. They might want to see your pay-slips for the last six months, for instance. Plus a reference from your employer. Or the equivalent of six months rent in savings.

Bargie

Ok thanks - I will have some of the money from the equity in our house, plus I earn a decent amount so hopefully that will be ok./ I guess just be honest when applying for a house?

G_M

Many agents have rigid rules on what they'll accept/not accept on their landlord's behalf, though those standards can vary greatly between agents.

Where a landlord has delegated the tenant selection completely to the agent, they will follow whatever standards they have.

Some LL's however, ask to see the various applicants' details, and make the decision themselves - and of course can be as flexible as they wish. This is also obviously the case where no agent is involved.

kloana

Check with your prospective letting agent as to which type of credit search they do. Credit searches which screen for 'public information' only do not show defaults, or general 'poor' credit - just CCJs, bankruptcy, debt relief, and so on.

Bargie

thanks all for advice x