Tenancy Credit Checks

Martha81

Hello, does anybody know if there are varying degrees of credit checks done on prospective (private) tenants? We are looking to rent a property through the National Trust and are concerned at how in depth the credit check will be. We have heard of some that just check electoral roll, CCJ, and bankruptcy - in which case we're fine - but, if they dig deeper and are able to check default CC accounts (from the time we lost our company in the recession, all now written off) then we're worried that we'll be snookered and lose the property. Also, if we have to pay upfront and then don't pass a credit check, is that just our tough luck? That can't be right! If anybody has any knowledge of how rental agents/companies such as National Trust operate I'd be grateful. Ta.

G_M

Most tenant credit checks include a 'score' which is based on payment defaults amongst other things.

Yes, it's your tough luck. The landlord pays to check you, and if he finds financial facts he does not like, why should he refund your money?

(though I accept that agencies charge outrageously for the checks)

kinger101

(a) how long ago were the defaults? - I think they'll be off your history after 6 years
(b) have you checked your credit files?
(c) you could also disclose this to the NT prior to the credit check (but it would still look bad if this was recent).

If there not happy with your credit file, they may be prepared to accept a guarantor (if you have one), or prepayment of six months rent.

Experian_company_representative

Private landlords do not share repayment data with credit reference agencies so are not allowed access to other organisations' repayment data. Data sharing is entirely reciprocal. As a result, private landlords can only access public records from credit reference agencies, whether this is provided in raw form or via some sort of score. Public records are those available from public registers, such as court judgments and bankruptcies. Hope that helps.


James Jones

TWS89

Experian_company_representative wrote: »

Private landlords do not share repayment data with credit reference agencies so are not allowed access to other organisations' repayment data. Data sharing is entirely reciprocal. As a result, private landlords can only access public records from credit reference agencies, whether this is provided in raw form or via some sort of score. Public records are those available from public registers, such as court judgments and bankruptcies. Hope that helps.


James Jones

Does the same go for Estate Agents? How in depth is their search? I have one default from 2012, would this go against me?

Lieja

TWS89 wrote: »

Does the same go for Estate Agents? How in depth is their search? I have one default from 2012, would this go against me?

Yep, same goes. They can't see defaults, only CCJs, bankruptcy, etc. OH and I rented through an agent earlier this year and he has defaults all over the place. Passed their credit check with flying colours!

TWS89

Lieja wrote: »

Yep, same goes. They can't see defaults, only CCJs, bankruptcy, etc. OH and I rented through an agent earlier this year and he has defaults all over the place. Passed their credit check with flying colours!

Thanks for your reply! That's a relief as I have no means of obtaining a guarantor! I shall keep my fingers crossed for when my time comes!

theartfullodger

There's a vrariety of checks on offer for landlords & agents.. from £7 each I think.

e.g.
http://www.nlatenantcheck.org.uk/services.aspx

Basic Check Full Check
Response Time Instant Avg. 48 hours
CCJ Search Both
Bankruptcy and Insolvency Check Both
Residency Confirmation Both
Linked Address Check Both
Electoral Roll Search Both
Bank Account Validation No Yes
Previous Tenancy Reference No Yes
Affordability Calculation No Yes
Income/Employment Verification No Yes

Express Tenant Check and Company Referencing Check are also available.
Basic Check Full Check
Full Member £8.95 £24.50

But there are loads of different people doing them with minor variations of what they do..


That they charge the poor tenant a lot more is immoral. And unlawful in Scotland (come on England, catch up!!)

barnaclebill

It's hard to get a rented property if you do not match the standard criteria or have a poor credit history.
A year ago I was in an expensive rented house, while I was working at sea the landlord who lived next door had shouted at and upset my wife, when I came home we wanted to leave but he wanted us to pay the 6 months remaining let.
I applied for a house via an agency but was turned down because no reference and when I passed 65 my foreign employer refused to send any details of my employment to agency as I was then on voyage contracts , my wife was desperate so I looked on gumtree and found a house that was the owners only place, explained my situation and offered to pay 6 months rent up front and LL agreed, ended up staying 12 months the last 6 paying monthly. (the first house ended up paying 3 months compensation after moving out) I was lucky to find a good landlord who believed me but being able to pay the 6 months up front helped.
Now finally retired and moved into our own place again but have full sympathy with those trying to rent who do not meet the standard criteria.

Guest101

G_M wrote: »

Most tenant credit checks include a 'score' which is based on payment defaults amongst other things.

Yes, it's your tough luck. The landlord pays to check you, and if he finds financial facts he does not like, why should he refund your money?

(though I accept that agencies charge outrageously for the checks)

Actually disagree with this. But depends on the procedure.

My opinion is this:
1. Tenant fills out application pack
2. Landlord checks the pack, if happy, proceeds to checks.
3. The checks either confirm the information in the pack, or raise flags.
4. as long as no flags are raised, if the LL changes their mind, they should refund.

I think alof of confusion exists regarding these checks, in my opinion they are basically honesty tests. Were you honest on your form.

jjlandlord

No-one talked about the landlord "changing his mind", just about failing the landlord's referencing procedure.