Can I ever rent my own place with bad credit history?

Leon_82

I have defaults, however I wish to maybe start renting a place on my own through estate agents.

Will they ALL ask for credit checks or is it spareroom.com forever?

Thanks.

Monkeyballs

Hi Leon,

It is a bit of a struggle, but not impossible...

Whenever I move I always look for a private landlord who are normally more flexible (especially if they like you when you go to a viewing) and although a lot still do credit checks it's normally cheaper than through an agent and more reliant on good references from past landlords

However, if you'd rather go through an agent (I admit there are plenty of upsides) then normally references are equally important and generally are ok with a bad credit history so long as you're not a recent bankrupt and have a guarantor.

Don't be afraid to just come out straight upfront that you have a poor credit history and they'll fill you in on where you stand rather than waste time and money

MB

Leon_82

Cheers, I have no interest in a mortgage however I thought renting wouldn't be so hard with bad credit if I have a job etc?

Working full time in a perm job with decent references from my landlord.

Will that help?

Leon_82

If I pay a 'reference fee' and fail (been quoted £220 for one!) will I lose that money?

Cyrus

Leon_82 wrote: »

If I pay a 'reference fee' and fail (been quoted £220 for one!) will I lose that money?

Yes, I believe that most of the time it's non-refundable. Another downside to using estate agents.

almamatters1985

It won't be difficult at all. Please don't listen to horror stories.

All a credit check can show a letting agent/independent landlord about your credit history is your publicly available information. Your publicly available information is whether you have been declared bankrupt or have an IVA/DRO or CCJs. THAT IS IT. They cannot see defaults, missed payments, whether you're in a debt management plan (DMP), how many creditors you have, how much owe etc etc.

If you are bankrupt or have an IVA/DRO or CCJs just be honest about it. If you don't, don't tell them anything.

I have a terrible credit rating (PD loans, defaults, missed payments etc) and I was credit checked for a rental house a few months ago. It came back completely clean (as it should). The letting agent even said "ooh, that's a high score."

I just wanted to pass on this information because I know exactly what you're going through but please don't worry! When I was going through the referencing stage of renting I was SO terrified that I would be declined.

My original thread about my experience is here: https://forums.moneysavingexpert.com/discussion/4980724

IDer89

SlitheryElf wrote: »

It won't be difficult at all. Please don't listen to horror stories.

All a credit check can show a letting agent/independent landlord about your credit history is your publicly available information. Your publicly available information is whether you have been declared bankrupt or have an IVA/DRO or CCJs. THAT IS IT. They cannot see defaults, missed payments, whether you're in a debt management plan (DMP), how many creditors you have, how much owe etc etc.

If you are bankrupt or have an IVA/DRO or CCJs just be honest about it. If you don't, don't tell them anything.

I have a terrible credit rating (PD loans, defaults, missed payments etc) and I was credit checked for a rental house a few months ago. It came back completely clean (as it should). The letting agent even said "ooh, that's a high score."

I just wanted to pass on this information because I know exactly what you're going through but please don't worry! When I was going through the referencing stage of renting I was SO terrified that I would be declined.

My original thread about my experience is here: https://forums.moneysavingexpert.com/discussion/4980724

Thanks for sharing this!

I too am worried about renting a property after discovering a default on my file for a graduate overdraft defaulting whilst I lived abroad.

I intend to rent until I am at least 30 due to my career requiring me to move around a lot and was worried about it showing up on a credit check.

This information is a huge relief as up until this default I've never missed any sort of payment! Thanks a lot!!

almamatters1985

You're very welcome!

I had loads of sleepless nights stressing about my referencing credit check and I don't want anyone else to go through that!

Someone else on here (can't remember who!) explained that because a landlord or letting agent is not loaning you any money they can't see anything that's not publicly available. Obviously banks etc can see your full credit history because they are going to be lending to you. Makes perfect sense when you think about it!