Credit score for renting property

johndb

I know that there is no 100% accurate answer to this due to the fact that individual landlords will vary their criteria, but can anyone advise whether or not an equifax credit score of 361 will be sufficient for me to be accepted on a tenancy agreement?

Also, how many points can I expect to gain for registering on the electoral role at my current address?

[Deleted User]

The credit score is entirely meaningless so will be of no help to you at all.

No one will see it or measure your credit worthiness against it.

engineer_amy

no one else can see your score except you so its pointless worrying about a few extra meaningless points. What the landlord/letting agent may be able to see if how you have conducted your credit accounts - late payments, defaults, ccjs etc and will base their decision on that information.




As for the points gained by being on the electoral role - who knows? The CRAs have their own secret method of coming up with these scores - it may be based on carefully calculated algorithms, or it may be based on the colour of your shoes.


Being on the electoral role does tend to show lenders that you are more stable and less risky, but it can take a few months for the CRAs to update this, it may not help out in the short term if you are credit checked for an imminent house move.


It may be more beneficial to understand why you are being scored approximately halfway along Equifaxs scale - what is your credit history like?

HappyMJ

johndb wrote: »

I know that there is no 100% accurate answer to this due to the fact that individual landlords will vary their criteria, but can anyone advise whether or not an equifax credit score of 361 will be sufficient for me to be accepted on a tenancy agreement?

Also, how many points can I expect to gain for registering on the electoral role at my current address?

None. I am not on the electoral roll and it doesn't gain you anything unless you're young and have never had credit including an overdraft and have no other way of identifying yourself.

You will still need to prove to a landlord that you have a right to rent and have sufficient income or cash resources to pay the rent.

Bankrupt people can still rent. They do not have any debt repayments to make, rent is priority number one bill to pay above all other bills including payments to creditors included within a bankruptcy. I would let my house to a bankrupt person with sufficient income.

As long as you do not have outstanding debts that have gone to court to another landlord that you've ignored and therefore acquired a CCJ then you shouldn't have a problem renting. I would not let my house to someone who has had severe rent arrears leading to an eviction and a CCJ.

johndb

I don't have a credit history. I have had no credit cards, loans or overdraft in the last 10 years. Not even a phone contract.

HappyMJ

johndb wrote: »

I don't have a credit history. I have had no credit cards, loans or overdraft in the last 10 years. Not even a phone contract.

As long as you can identify yourself then you won't have a problem.

A passport is ideal but there are other forms of acceptable ID proving you have the right to rent in the UK.

How did you get a score of 361 having no credit? Surely something shows on the credit report.

johndb

HappyMJ wrote: »

As long as you can identify yourself then you won't have a problem.

A passport is ideal but there are other forms of acceptable ID proving you have the right to rent in the UK.

How did you get a score of 361 having no credit? Surely something shows on the credit report.

I have no idea. I obviously have a bank account that is always in credit, I have never been overdrawn etc. Would that be it?

National_Debtline

Hi

The type of credit checks a landlord can carry out don't show your debt repayment history. They can only see publically available information, such as CCJs or insolvency. Being on the Electoral Roll would help as part of the identification check.

You can see an example of Experian’s Tennant Checking report here:
www.experian.co.uk/assets/background-checking/sample-reports/tenant-verifier-comprehensive-report.pdf

James
@natdebtline

johndb

National_Debtline wrote: »

Hi

The type of credit checks a landlord can carry out don't show your debt repayment history. They can only see publically available information, such as CCJs or insolvency. Being on the Electoral Roll would help as part of the identification check.

You can see an example of Experian’s Tennant Checking report here:


James
@natdebtline

Thanks very much. So as long as I can prove my identity I should be accepted even if not on the electoral role?

National_Debtline

johndb wrote: »

Thanks very much. So as long as I can prove my identity I should be accepted even if not on the electoral role?

I think that will come down to an individual landlord or letting agent's criteria.

James
@natdebtline

rtho782

Landlords are not offering credit (you pay in advance) so cannot see your credit file.

You could have 100000 unpaid defaults and £2,000,000 of debt, but as long as you don't have a CCJ or an IVA they won't see a thing and you will pass their checks.