First time renting

alby28

Well me and the Gf have just sold our house,we walked away with quite a nice profit on it.Anyway,we have decided to wait a while before buying again and so looked into rentng for a year.She has a great job with the local council where i have recently become unemployed.So anyway,we have found a very nice victorian terraced to rent.The kids love it and so do we.So we told the Agent we wanted it and he said we had to go in for credit checks and references.My problem is,when we first bought our house 7 years ago,we got into some debt and had a few problems.We defaulted on a few credit cards and a small loan.All go paid of in full 4 yrs ago apart from 1,which we still pay monthly.So i did a credit check tonight on me and her and it seems we both have low credit scores still.She has just over 500 and i have 701.Will this affect us renting this house?We never buy anything on credit or own any credit cards.Everything from the last 4-5 yrs in upto date and paid.The morgage has never been missed the sky tv,car insurance,broadband and all the bills.But yet our credit report doesnt seem to show these things.Why???

Would it help if we offered 6 months rent in advance?trouble is after next week we are homeless,and with council waiting list through the roof.


Sorry for the long post Mark

smousie

6 months rent in advance would probably help a lot. When I left university my friend and I moved to London as we had jobs lined up, and the estate agent refused to let a flat to us on the basis that we hadn't started our new jobs yet and therefore couldn't provide payslips to prove our earnings. It was a vicious circle - we needed a flat to move into BEFORE starting our jobs, but couldn't provide the paperwork to get the flat until AFTER starting our jobs! In the end my friend's Dad bailed us out by paying 6 months rent in advance, and we signed a 6 month lease, then we repaid my friend's Dad every month. After 6 months we had the paperwork to prove our salaries and could rent the flat properly.

alby28

We have noticed something very funny on our credit checks.There 3 recent credit checks(all within the last 5 weeks)1 by Black horse finance for a personel loan,1 by Co-operative bank for a personel loan and 1 by Welcome finance for a secured loan.But yet we havent enquired anywhere about a loan So surely 3 checks in such a short time affects our score.



Mark

Guy_Montag

alby28 wrote: »

We have noticed something very funny on our credit checks.There 3 recent credit checks(all within the last 5 weeks)1 by Black horse finance for a personel loan,1 by Co-operative bank for a personel loan and 1 by Welcome finance for a secured loan.But yet we havent enquired anywhere about a loan So surely 3 checks in such a short time affects our score.



Mark

That would ring alarm bells!
I'd get i touch with the companies to find out what's going on.

alby28

Just been back on the website to get teh info needed to report it.When i noticed the dates of application for these 3 phantom loans hasnt even happened yet Just look at the application date compared to my Girlfriends DOB.Thats exactly how it has come from teh report.

Entry Number:U1 Name and address:Name of applicant:Date of Birth:10/07/75Date of application:20/07/10 Searched by:WELCOME FINANCIAL SERVICES LTD Entry Number:U2 Name and address:Name of applicant:Date of Birth:10/07/75Date of application:20/07/10 Searched by:BLACK HORSE LTD Entry Number:U3 Name and address:Name of applicant:Date of Birth:10/07/75Date of application:20/07/09 Searched by:COOPERATIVE BANK PLC

Guy_Montag

I'd still get in touch & give them some !!!!!! about it, other people may not look at the application date. Don't forget to apply for those loans at the correct time though, or you'll end up causing some sort of weird space/time paradox which may lead to the end of the Universe. I'm sure glad I don't have that responsibility on my shoulders.