Stress of Waiting for a Credit Check

novotose

We're waiting for our tenancy reference check. It's a bit of a tough wait because I am worried I'm going to fail.

The reason I worry is on the affordable area. My husband works full time, we get Tax Credits as we have kids, but I'm a full time student, and I get £12k per annum in Student Maintenance Loans and Grants.

But I'm worried that the referencing agency will reject us because of my the Student Maintenance income. The agency said if SHOULD be fine, and the landlord is happy with our financials. My husband keeps telling me not worry but what if it all crashes and burns. I can't find any information anywhere about how referencing agencies treat student loans when they are dealing with a mature student with partner with income.

Any ideas?

SuboJvR

My experience is limited to once agency in Sheffield, which is a big student city.

In terms of affordability we could afford the place on my salary alone as per all their calculators yet despite this the letting agent still wanted additional "security" because my husband (then boyfriend) was a mature student, who himself worked part time. He didn't have any student loan or grants coming in either.

He had references from student landlords and I from a private and student lets before.

This meant they wanted 2 months' deposit rather than the standard 1 month or 6 weeks. Bit of a pain at the time but we managed it.

My experience of referencing agencies is a bit mixed - HomeLet we have found atrocious both times we have dealt with them. As an example, they would not attempt to call my husband's financial reference (international number) at all, then lie that they couldn't contact them. They then asked for a letter from my employer in addition to the one I had supplied from HR, and didn't wait for the letter anyway. Definite case of left and right hands not knowing what the other was doing.

Guest101

If the LL is happy then how can you fail?

novotose

I don't know. But I'm really worried. We were looking at private lettings and I got offered rent reduction for sex, and another guy attempted to scam us out of £700 (I say attempted, because I was like 'no way sunshine').

Guest101

novotose wrote: »

I don't know. But I'm really worried. We were looking at private lettings and I got offered rent reduction for sex, and another guy attempted to scam us out of £700 (I say attempted, because I was like 'no way sunshine').

If the LL is happy, the credit check will just show that you haven't got a secret CCJ or whatnot.


Rent reduction for sex.... I'd be offended, surely I'd be worth living rent free!!

novotose

Well, I've decided if we get such an offer ever again, I'm gonna loan out the hubby.

'It's below me, but DH is a stickler for a good deal, he'll do the dirty!!' lololol.

sheff6107

Why don't you check yourself on Noddle and Clearscore?

The credit check thing with lettings agents is one big scam. You could give them your Noddle password and they could check for free. There's no money in that though!

Guest101

sheff6107 wrote: »

Why don't you check yourself on Noddle and Clearscore? - Because neither of those things are in anyway relevant to what a letting agent sees?

The credit check thing with lettings agents is one big scam. You could give them your Noddle password and they could check for free. There's no money in that though!

You really don't understand how it works? (OP don't give them your noddle password, they can only see public records!)

novotose

Don't worry, I won't. It would be like giving them my credit card and PIN.

novotose

So to update, the Tenant Referencing Agency has failed us on affordability checks by stating my Maintenance Loan of £12k doesn't count as income and therefore, we can't afford a property.

We are making the case to the Letting Agency, who are disagreeing with this stance because they are off the opinion that we shouldn't be discriminated against because I'm a student.

The saga continues....

sheff6107

Geez, I was making a facitious point !!!!!!.