Rental uncertainity - insurers requesting full credit check

essex123_2

Hi all,


Parents recently offered on a rental - slightly panicked with time running out with our sale completion offered 6 months up front plus fees. Offer accepted that same afternoon - we get the forms to fill in for reference check permission and then hear credit checks have come back fine and all been sent off, then it all goes quiet. Eventually hear that the company that have recently taken over the house have got new insurers who didn't want the pass/fail check that letting agent sent them - they wanted full credit check or something. Parents went down only to come back as they had to set up accounts with Experian themselves (I was already on there) to print off reports. The letting agent had never had a request like this before so I am wondering if anyone else has or has heard of it? I did think at first it might be policy thing and just a formality - but they know what details we passed on first off so wondering why they want a full report. We wondered where on earth we stood and eventually got told to book a removal - but they will only just be getting our 2 reports, and have to wait for Dads as Experian have to send him a pin to access site for some reason (Experian said could be a low credit score). Are they likely to be picky and request more info ?

MadelinesMum

Hi, my parents went through similar. They paid six months up front but I'm sure they didn't even need a credit check.

They stayed a couple of years and kept paying 6 months in advance each time. They shouldn't need a credit check if they've already paid. Perhaps you could question it, it may be an oversight by the insurance company.

HappyMJ

You don't even need a credit check if you are paying for the whole contract up front. They'll still insist on it but it's not required. I've just rented a property recently. My OH would fail on her own due to a poor credit rating but we passed the tenancy check and that was with no references. I just provided a bank statement showing I had the money and that was it. They still charged for 2 reference checks and they did virtually nothing.

essex123_2

We seem to have been charged a fair bit for not very much as well - and we had to sign up for the accounts to get the Experian thing after paying them for checks. All 3 of us have had to be checked and on tenancy with this one - a previous house they didn't get said I could be a 'permitted occupier). Will have to see if they pick or ask for more evidence/references. Not sure they've even asked for a bank statement yet. That's interesting thanks both.

G_M

HappyMJ wrote: »

You don't even need a credit check if you are paying for the whole contract up front. They'll still insist on it but it's not required. I've just rented a property recently. My OH would fail on her own due to a poor credit rating but we passed the tenancy check and that was with no references. I just provided a bank statement showing I had the money and that was it. They still charged for 2 reference checks and they did virtually nothing.

You still need a credit check .... if the landlord requires it.

When the 6 month fixed term is up, what happens? Tenant can stay on a SPT, but may not have further cash, or may be a serial bankrupt/non-payer etc, so LL has all the same issues of a 'bad' tenant.