HomeLet Referencing

Aliceindebtland

Does anyone have any experience of tenant referencing with HomeLet?

I’ve just viewed a new property and the agents use them for the checks. I have poor credit and a few bank loans but can afford the rent on the new property.

From looking online I can see that HomeLet do ‘forensic affordability’ checks not just a soft search. I can see from their website they are also linked to Expedia and use your credit score. I’m just a bit worried I won’t pass due to my outgoings.

Can anyone confirm quite how far they delve into your account details?

Thanks

Aliceindebtland

Just bumping this to see if anyone can help?

_Penny_Dreadful

https://forums.moneysavingexpert.com/discussion/6658352/homelet-referencing

Full disclosure, as a landlord I've never used HomeLet and their VISTA referencing process but I have used other referencing services.

Looking at the language used it seems a bit smoke and mirrors. I doubt that HomeLet are going to be able to access anything more than an ID check and public credit file. That said, what some referencing companies appear to be doing now is using Open Banking to do a deeper dive into potential tenant's finances.

Murphybear

”Forensic affordability”?

Not come across that before with respect to lettings.

The definition of it is

“Forensic affordability refers to the ability of law enforcement, legal teams, or individuals to access necessary forensic science services (such as DNA testing, digital forensics, or accounting) within their budget, ensuring that high costs do not prevent investigations from being completed or justice from being served. It is a measure of balancing the high costs of specialized expertise and equipment against the need for rigorous, high-quality evidence.”

Source: UK Parliament

I came across Homelet when I was in the lettings business but, from what I remember, it wasn’t any different from any other similar business