Renting with bad credit.

gareth01422

Hi guys

I am looking to rent a flat closer to family after living away for 8 years in shared accommodation.

I do have bad credit, 1 house and car repossession around 7 years ago. and possibly lots of defaults.

on the good side, I have a very secure job which is very well paid. 2 references from landlords and one from work. Also have a years worth of wage slips and bank statements.

Will this be enough to pass the credit check? I have asked my farther to be a guarantor but as hes out of work they wont accept him. And I dont have anyone else I could ask.

In advance, I would like to say thanks on any advice you guys give me.

Gareth

DRP

have you downloaded your credit record ?

That would be my first step , i think.

sandsni

Bad credit certainly won't help, but if the previous LL references are verifiable and show that you consistently paid the rent on time and in full then you might get lucky with an understanding LL. Some might suggest offering more rent in advance as many LLs will jump at the chance of money in their pockets up-front, but personally I would find that more suspicious (the police here have been warning about offers of 6-12 months rent in advance as they can be fronts for organised crime ^^).

You'll probably find that a lot of LAs will disregard you based solely on the credit rating without looking any further, but you might have more joy if you can go direct to a LL.

pmlindyloo

Repossessions and defaults do not stay on your credit record for ever.

I would agree that you need to check. Good information here:

https://www.moneyadviceservice.org.uk/en/articles/how-to-check-your-credit-report

If you find your credit report is not great then I would tend to be upfront with the LA, explain what happened and offer your positive information to them (but check first - there may not be any need to mention previous bad credit if it isn't showing on your credit report)

gareth01422

I have just applied for my credit history, so should have a clearer picture on where i stand.

Cycrow

if the defaults happened 7 years ago, most likly they wont be effecting you now as they will be removed after 6 years

gareth01422

Cycrow wrote: »

if the defaults happened 7 years ago, most likly they wont be effecting you now as they will be removed after 6 years

we will soon see, Ive had an email saying the report will be available in the next 24 hours.

pmlindyloo

gareth01422 wrote: »

we will soon see, Ive had an email saying the report will be available in the next 24 hours.

Don't forget to check with all 3 credit reference agencies.

AbsoluteReturn_2

Try renting direct from the landlord (avoid expensive letting agents and often the credit check too). You can find them advertising in the local paper, PropertyHeads.com or Gumtree.com

gareth01422

pmlindyloo wrote: »

Don't forget to check with all 3 credit reference agencies.

Really? how come all three?

Ive done the experian one for £2...... as this is the only one i know. the other 2 ive never heard of.

Werdnal

AbsoluteReturn wrote: »

Try renting direct from the landlord (avoid expensive letting agents and often the credit check too). You can find them advertising in the local paper, PropertyHeads.com or Gumtree.com

Even private landlords (like me) usually insist on credit checks and would probably be more thorough than an agent who charges the maximum fee for minimum work!

OP, can you get a guarantor to sign against your tenancy, or offer to pay 6 month's rent upfront?