Credit Rating/Electoral roll and Letting Agents

Covcraig

Hey everybody, need some advice.

Im 25 in full time employment and currently living at home with my parents.

Things are too much to cope with here so i'm looking to move out ASAP.

I've found a flat I like and hopefully will get a viewing early this week, I contacted the letting agent about upfront fees and its 495 for first months rent,595 for bond and 195 for admin fees which includes a credit check. I'm fine with paying all this but am concerned about whether I will get the flat due to whether or not i'll pass this credit check.

I was younger and dumb and got into abit of debt which drove my score down but I currently only have a credit card now which I keep up with the payments. So my relatively low score is a factor i'm worried about. I don't have any defaults or CCJs so i'm not too concerned. My income is just over £1500 a month and I have payslips and bank statements to back that up.

I've just recently found out my folks haven't put me on the electoral register though and this impacts my credit rating and I know this will come up when the credit check me, i've pleaded with them to put me on it but they refuse. I'm between a rock and a hard place now because I really want to move out but this is the one thing I know that will prevent me from doing that.

What I want to know is, how will not being on the electoral register when I apply affect my chances, will I flat out be refused? I can't get my parents to budge either.

Please can someone help me out here

Thanks

wildheart83

First of all, there's nothing stopping you putting yourself on the electoral register, have your parents told you why they're refusing to do this for you?
Secondly, the issue of not being on the ER at your current address would be something you'd need to tell the prospective LA. It all depends on the agency, and the landlord.

If you need/want to move out ASAP, then the ER will take at the very least a month to update, though can often take much longer, why not look at private lets? Gumtree, local papers, word of mouth are all useful, and often they won't credit check.

good luck x

Covcraig

I think it's because they are OAPs and they get a discount or something and they'd lose it if I was on the register but I pay rent which easily covers it so I don't see the problem.

I think it's greed ultimately but they won't budge. I did consider putting myself on the register but I don't want to get them into trouble financially plus it would cause all kinds of hell for me. Not just that but like you said, it could atleast take a month which is too long, assuming they'd go for it but they won't.

I have the funds and finance for the flat, it's just my credit check and this electoral roll that is gonna mess me up.

I've looked at private listing but they are generally too expensive or in really bad areas

Covcraig

I think it's because they are OAPs and they get a discount or something and they'd lose it if I was on the register but I pay rent which easily covers it so I don't see the problem.

I think it's greed ultimately but they won't budge. I did consider putting myself on the register but I don't want to get them into trouble financially plus it would cause all kinds of hell for me. Not just that but like you said, it could atleast take a month which is too long, assuming they'd go for it but they won't.

I have the funds and finance for the flat, it's just my credit check and this electoral roll that is gonna mess me up.

I've looked at private listing but they are generally too expensive or in really bad areas

wildheart83

The best thing to do is to be honest with the letting agency, explain that you've never been on the ER but that you have a steady, regular income that can be proven.

Also do you have anyone that could act as guarantor for you? Or see if you can stretch to paying 3-6 months rent upfront?

Ask friends / colleagues if they know of anyone with property they are looking to rent out. Would you consider flat sharing for a few months? That way you can go on the ER at that address then look to rent yourself in 6-9 months?

Trajal

Covcraig wrote: »

I think it's because they are OAPs and they get a discount or something and they'd lose it if I was on the register but I pay rent which easily covers it so I don't see the problem.

In the real world, your council tax comes as an additional to your rent payments. Have you offered to pay your share of the council tax in addition to the rent you pay to them? The other issue is if they are in reciept of benefits of any nature it sounds like they are not declaring the income you provide in rent to the benefits agency.

I'm not going to be judgemental on that topic, however it could well be rather demotivating for them as they could stand to lose considerable amounts of benefits. That said, if it is indeed the case, then they are potentially committing a criminal act - Benefit Fraud - by failing to declare.

Covcraig wrote: »

I think it's greed ultimately but they won't budge.

That's a touch harsh! I don't know enough of the details but perhaps you should respect them a little! They have given you a roof for many years and I presume only recently you have started paying. I'm sure they've supported you when you needed it. Don't judge them so strongly.

Covcraig wrote: »

I did consider putting myself on the register but I don't want to get them into trouble financially plus it would cause all kinds of hell for me.

Well I doubt they'd be happy if they are doing something along the lines I suggested above as it would put them in a very dangerous position. Perhaps best for you to find an alternative way out of the situation so that they aren't exposing themselves to anything which could get them into legal or financial trouble.

Covcraig wrote: »

I have the funds and finance for the flat, it's just my credit check and this electoral roll that is gonna mess me up.

I've looked at private listing but they are generally too expensive or in really bad areas

And to go back to your first point really. Estate agents want to let the flat to you, but they need to make sure that you are who you say you are. Presuming you have bank statements and bills (mobile phone by chance?) to that address it will probably be reported on the various Credit Reference Agencies. I'd check that is indeed the case with a free report by Noddle.

Furthermore, you will need to prove your identity, so drivers license/passport and that should be enough.

To go onto the 'negative' side of the credit report - don't worry if you don't have CCJ's or anything public. I have a few defaults and back a few years got myself into a right royal mess. However I avoided CCJ's and last friday was approved by an agency to let a flat at over £900 a month.

They do an affordability calculator, they check your current landlord (not relevant in your case) and they check your employer. They then do a cursory check to see if anything negative is around and to prove your address. The CRAs themselves probably have your address details anyway despite not being on the electoral roll because of your credit card.

The electoral roll is an importact factor when applying for new credit but in this instance it it just a question of you being who you say you are and living where you say you live. If you have that via the CRAs existing credit records then you should be fine. If you aren't I'm sure you can still prove it through bank letters etc.

Good luck, and don't be too harsh on your parents, who knows the struggles they have had to go through!

pompeyred

If you havent already signed up for it then use the checkmyfile.com site which has a free trial and shows what public information lettings agents will see, generally it is higher than credit profile based information although the electoral role will be a significant factor.

I'd be honest with the agent (although I despise them and bet their honesty wouldn't extend to much levels on the way back) as they should be able to see the other positive factors. That said if they have any rental insurance against your let then it will also be somewhat out of their hands.

Ask them to tell you what they are searching for and if you can mitigate it up front (can you afford an extra deposit for example)....? If they know what they are talking about it may just save you the admin fees (grr did I mention how much I hate this industry, admin fees at £195 when the check costs about a tenner and the landlord is charged through the nose for nearly all other services as well).