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HELP!! What can letting agency see on credit check??? Any one in rental market know?

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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Ninth Anniversary 1,000 Posts Name Dropper
    https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/321830/MLR2007.pdf

    Estate Agents who let properties have to comply with Money Laundering Regs 2007, Lettings Agents who are pure lettings agents don't have to comply with the MLR but DO have to comply with POCA 2002.

    HMRC regulate Estate Agents so you can't blame me or the FCA for that ;)
  • Guest101
    Guest101 Posts: 15,764 Forumite
    camelot1971 wrote: »
    https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/321830/MLR2007.pdf

    Estate Agents who let properties have to comply with Money Laundering Regs 2007, Lettings Agents who are pure lettings agents don't have to comply with the MLR but DO have to comply with POCA 2002.

    HMRC regulate Estate Agents so you can't blame me or the FCA for that ;)



    Letting agents who let properties are landlords....
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Ninth Anniversary 1,000 Posts Name Dropper
    Guest101 wrote: »
    Letting agents who let properties are landlords....

    Not necessarily, lettings agencies let properties on behalf of landlords. Someone who lets their own property is not a letting agent but if they let their properties as a business they would be.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    camelot1971 wrote: »
    Not necessarily, lettings agencies let properties on behalf of landlords. Someone who lets their own property is not a letting agent but if they let their properties as a business they would be.

    Yes but they wouldn't be an 'agent'
  • Miss_Samantha
    Miss_Samantha Posts: 1,197 Forumite
    camelot1971 wrote: »
    Estate Agents who let properties have to comply with Money Laundering Regs 2007, Lettings Agents who are pure lettings agents don't have to comply with the MLR but DO have to comply with POCA 2002.

    The requirement to check identities comes from MLR 2007 (and does not apply to letting agents), not POCA 2002 as far as I can see.

    However, the claim that you confirmed was that agents had to check identities under these statutes.

    Also, you offered to dig the references in the legislation, which you haven't yet ;)
  • theartfullodger
    theartfullodger Posts: 15,710 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 21 August 2016 at 11:34AM
    (I presume in response to
    theartfullodger wrote: »
    For all tenants of all letting agents? I'd be very interested & happy to pay. Care to propose a Housing charity?
    - we got...
    camelot1971 wrote: »
    https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/321830/MLR2007.pdf

    Estate Agents who let properties have to comply with Money Laundering Regs 2007, Lettings Agents who are pure lettings agents don't have to comply with the MLR but DO have to comply with POCA 2002.

    HMRC regulate Estate Agents so you can't blame me or the FCA for that ;)

    Kindly post link to law (name, date, section) and I will gladly pay £15 (it's gone up again!) to an agreed housing charity but so far you haven't...

    TLC's claim is
    The law requires that we also verify the identity of all applicants under the Proceeds of Crime Act 2002 and Money Laundering Regulations 2007.
    which I still doubt, but would appreciate the guidance of an expert professional pointing me to where the law says it does require same (if it does...)

    Cheers!
  • Guest101
    Guest101 Posts: 15,764 Forumite
    theartfullodger wrote: »
    (I presume in response to - we got...



    Kindly post link to law (name, date, section) and I will gladly pay £15 (it's gone up again!) to an agreed housing charity but so far you haven't...

    TLC's claim is which I still doubt, but would appreciate the guidance of an expert professional pointing me to where the law says it does require same (if it does...)

    Cheers!

    The law does require them to check under the right to rent legislation, but that's not what he said
  • theartfullodger
    theartfullodger Posts: 15,710 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Guest101 wrote: »
    The law does require them to check under the right to rent legislation, but that's not what he said
    Err,nope to that also...(whilst it would be wise to formally check for Right2Rent, the law does not actually require that..)
  • ronnie130276
    ronnie130276 Posts: 12 Forumite
    I'm I'm seriously worried I'm just going through a reference/credit check for a flat I need to rent. I have a poor credit rating, no ccjs or bankruptcy but do have 2 defaulted accounts but I am paying them through a dmp. I can afford the flat and my employment reference is good and my previous land lord reference is good as I never missed a single months rent for over 3 years. The reference company is rent4sure. Am I going to fail and lose £200.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    ronnie130276 wrote: »
    I'm I'm seriously worried I'm just going through a reference/credit check for a flat I need to rent. I have a poor credit rating, no ccjs or bankruptcy but do have 2 defaulted accounts but I am paying them through a dmp. I can afford the flat and my employment reference is good and my previous land lord reference is good as I never missed a single months rent for over 3 years. The reference company is rent4sure. Am I going to fail and lose £200.

    Probably not.

    Now start your own thread, there's a good chap(ette)
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