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Making an offer and failing credit check - while deposit lost?
Comments
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Yes after looking into this further, they are indeed breaking the law as they should be sticking to the guidances under TPOS of which they are a member.
Cannot believe they are doing this.0 -
arthurfowler wrote: »Yes after looking into this further, they are indeed breaking the law as they should be sticking to the guidances under TPOS of which they are a member.
Cannot believe they are doing this.
Nonsense. What law are they breaking? They may be contravening a code of practice, but that as the TPO is voluntary scheme, the very worst case is they will be kicked out and not be able to use the logo.0 -
Yes you're right it's not a law they are breaking, but by contravening their guidelines and every agent having to be a member of a body such as TPOS, they have to stick to the codes of practice.0
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A credit check does not result in a pass or a fail. It just results in some information a letting agent or landlord can use as they see fit to decide whether to proceed or not.
You should know yourself whether you have any CCJs, IVAs etc and ask the lettings agent whether they will rent to you with them on your report or not. So a credit check should merely be a case of the agent seeing information you already know about yourself0 -
Yes more explicitly it says if referencing fails for any reason. I know that I have no ccjs etc.0
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Holding onto a deposit if you fail referencing is totally wrong.
I use Openrent to let one of my houses, and the only fee to the tenant is £20 for the referencing check, the holding deposit would be refunded if the tenancy did not go ahead.
You could use some sites like Noddle, or Clearscore to have a look at your credit files - generally speaking to pass referencing you need to be in full time work, and earn 2.5x the rental income. If you come under 2.5x it will be a fail as far as referencing is concerned. So if you fit those criteria you should be OK,0
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