Renting a flat with defaults on credit file

ArranPark

Hi all, really hope someone can help. 

I’m trying to get up-to-date advice on the impact of defaults/payment arrangement markers on passing a credit check to rent a flat. This subject has been discussed on here before but not very recently, and I think things may have changed…

I know that it’s always previously been the case that landlords/lettings agents can only soft search credit records and see the publicly available information - such as IVAs, CCJs or fraud markers.

But lots of the build-to-rent landlords now use big referencing agencies which use open banking and boast about detailed credit profiling. 

I’m just totally paranoid that the defaults and AR markers on my credit record would mean I’d fail their credit check process. 

The firms that do this sort of referencing for the build-to-rent companies in London - such as Canopy and Homeppl - don’t seem clear on whether they can now see defaults / evidence of a DMP - or whether it’s still the case that they can only see CCJs etc.

Does anyone have any experience / knowledge of how they work? Thanks so much!

sourcrates

As far as I am aware, its only public information that can be accessed for this.

This is an example of a check done for openrent -

Reference Result | OpenRent (d10hbub4nkludc.cloudfront.net)

ArranPark

Hi Sourcrates, thanks very much for taking the time to find and attach that, really appreciate it. 

Hopefully that is good news, then. I’m just desperate to avoid losing a deposit on one of these build-to-rent flats due to their specialist/open banking referencing agency flagging up my DMP/defaults. If they really don’t do that level of detail, it’s one fewer thing to worry about! 

THX-1-1-3-8

I can confirm that only PUBLIC records are available to landlords when doing a "credit check". It is actually a public records check and ID check - thats it. Landlords are not and never have been creditors.

CCJ's, IVA's, Bankruptcy etc. are the big ones - if you have these you should discuss with the letting agent prior to to making an application and get IN WRITING they would be ok with the application.

There are apps and websites that "boost" your credit score with regular rental payments but these are an utter gimmick and are best avoided.

Its common to be asked during the application process if you have any adverse credit. What you disclose is up to you.


I was once a lettings agent - albeit nearly a decade ago now. I saw these reports all the time and they are worth nothing.

ArranPark

Hi THX, thanks, that's much appreciated. Some of these new 'forensic' referencing agencies make it sound like they get access to much more than just the public records, but I guess that's just part of their marketing technique....

stewartwilliams

Do all these agencies / estate agents / landlords charge a fee for a credit check?
I looked at a few places a while ago and some were charging a fee of anything from £30-£180 for a credit / reference check and if you failed for whatever legit or fake reason, they kept the cash.

[Deleted User]

stewartwilliams said:

Do all these agencies / estate agents / landlords charge a fee for a credit check?
I looked at a few places a while ago and some were charging a fee of anything from £30-£180 for a credit / reference check and if you failed for whatever legit or fake reason, they kept the cash.

Most companies will charge an admin fee for such time spent.

happy2017

ArranPark said:

Hi Sourcrates, thanks very much for taking the time to find and attach that, really appreciate it. 

Hopefully that is good news, then. I’m just desperate to avoid losing a deposit on one of these build-to-rent flats due to their specialist/open banking referencing agency flagging up my DMP/defaults. If they really don’t do that level of detail, it’s one fewer thing to worry about! 

Hello, did you manage to get sorted? I’ve got defaults, no Iva or ccjs so wondering about the process myself, thanks