Rental credit checks

parkrunner

Emilyoflanye92 wrote: »

Hi

I'm relocating to be with my partner, we're currently lkng distance. He lives with parents so we want to get a little flat to rent for ourselves. I'm a little concerned about the credit check process? What can they see on my file? I have 'poor' credit score however no ivas, bankruptcy or ccjs. No defaults on any payments due. I do have credit card debt and a personal loan but make regular payments and comfortably. Google has alot of contradictory answers, some say public records others say they can see everything

Thanks

Have you missed payments on the credit cards or loan?

Comms69

Blackpool_Saver wrote: »

Most agents want them, rental property is hard to get, sometimes you have no choice, use a BIG marker pen to block out anything private

Source?


I accept some do. I've rented for 15 years give or take. 20+ properties (I move around) I've never supplied statements.

Comms69

Emilyoflanye92 wrote: »

The agency who I'm looking at going for a flat with says on their website, they can see credit scores? Feel like I'm going to end up homeless ��

Credit scores are make belief. They don't exist.


I've just given you a credit score of 1,000,000. It doesn't mean a thing.

Emilyoflanye92

Park runner - no never missed a payment!

Emilyoflanye92

So why is there such a big emphasis put on your credit score etc it's literally petrifying. I'm uprooting my whole life to be with him and this is by far the most stressful thing ever!

lookstraightahead

Money for the boys.! It keeps people in jobs. What I find highly amusing is wanting a landlord reference - like landlords can't be dodgy!

Emilyoflanye92

Do I have any chance of being accepted?

ayupmeduck

Blackpool_Saver wrote: »

Most agents want them, rental property is hard to get, sometimes you have no choice, use a BIG marker pen to block out anything private

I've never provided any.

muhandis

If you're going through agents, most of them (after the tenant fees ban) have tied up with one of these "online" tenant check firms (UKTenantData, LetAlliance, etc) who charge them a somewhat subsidised fee (they try to upsell services to tenants).

They generally do the following - verify employment, verify id-address proof-right to rent, perform a soft credit check, check for major credit issues like ccjs, defaults, do the income to rent multiples, reference from current landlord (rent paid on time, how the property was maintained) etc, verify affordability (some ask for bank statements, some give you the option of open banking) etc.

Where the landlords are using rental income insurance, these checks are (for the landlord) a non-negotiable as the insurance is contingent on the tenants checks coming back "positive".

Obviously, you have the option to refuse giving them what they ask but that might not be a choice available depending on how prevalent these sort of checks are among the EAs in your area.

Emilyoflanye92 wrote: »

Hi
I'm relocating to be with my partner, we're currently lkng distance. He lives with parents so we want to get a little flat to rent for ourselves. I'm a little concerned about the credit check process? What can they see on my file? I have 'poor' credit score however no ivas, bankruptcy or ccjs. No defaults on any payments due. I do have credit card debt and a personal loan but make regular payments and comfortably. Google has alot of contradictory answers, some say public records others say they can see everything

Thanks

muhandis

There's no harm in giving it a go.

As long as you don't misrepresent your situation to the EA/landlord, if they refuse to let to you after the reference check, they have to return the holding deposit. They can't charge you for the reference checks either, so monetarily you don't have anything to lose.

Honestly, I don't think there's any need to stress so much, as far as I can tell they only care about biggies like CCJs, etc.

Emilyoflanye92 wrote: »

Do I have any chance of being accepted?