Definitive answer to "estate agents & credit checks"

Spacepig

It's that time of year again when I move out, last time I got a flat my estate agents ran whatever checks and said I passed, even gave me my score "500..".

I've since read conflicting thing about estate agents and credit checks, i.e they can see defaults/they cannot see defaults. Experian's own agent seemed to clarify this well here http://www.experian.co.uk/consumer/questions/askjames370.html "Can only see public records"

But do they use other means to gather details of credit history? The "500" score the estate agents gave me was the same score I can see on my full credit report....

Cheers.

anselld

Credit scores are meaningless anyway along with much of what estate agents tell you!

I very much doubt they use "other means"; they use the cheapest and least effort means and pocket most of your fee.

Spacepig

anselld wrote: »

Credit scores are meaningless anyway along with much of what estate agents tell you!

I very much doubt they use "other means"; they use the cheapest and least effort means and pocket most of your fee.

Tell me about it! And these 'fees' are before you even know you've got the place!

Spacepig

A bump, just found this.

http://www.tenantverify.co.uk/credit-score.htm "The credit report file (or credit history file) on an individual begins on the day he or she first opens a bank or building society account. It records every loan and credit card she applied for, every late payment made, every loan she is still paying off, and every credit check carried out on her."

As apposed to Experian saying "Can only see public records"

errr, a bit worrying. How do they gain this info?

scrimper88

me and my partner have stressed out about this everytime we have moved house in the past..... however weve never had any issues.

an experian rep replied to a similar post a month or so back (they nay come along and clarify on this post too) but basically they said because estate agents do not share your payment records with the CRA then they cannot see payment records from other companies.... its like a club whereby what you share you can see from other people.

he basuically said all they can see is public record data (CCJs and bankrupcies) they cant see late payments or defaults etc as they dont share these details so in return they cant see it.... if that makes sense?

basically they can only see CCJs and bankrupcies and if your on the electoral role.

youl be fine

scrimper88

the funny thing is our current agent (actually not an agent its a company that own most of the ex miners houses in our village) only charged £30 for the checks no matter how many people were moving in.
however emsleys charged us £125 for first person then £40 each for any others.
having spoken to a friend who manages student houses he said it costs a few quid to run a check on someone.

long and short of it i dont think they really care about your report its just another cover up to make a couple of extra quid in "admin fees"

chanz4

they only search trust online