Couple renting, credit of one good, the other bad

GFBrown

I want to know why if one member of a couple earns more than enough to pay the full rent of their desired property the bad credit, or the financial circumstances in any way, of the other is taken into consideration.

At present I have been told by a letting agency that if I was single and wanted to rent the property I am interested in there would be no problem; I earn enough to satisfy their requirements. However, my partner, who earns more than I do, has a CCJ against him for a small amount and this is affecting our ability to rent together (although I would happily put the property in my name and have the direct debit come out of my account only). Surely we pose less of a risk than a single person who has no fall-back support should they lose their earning ability? Statistically we must be less of a risk, there are two incomes. I can only think that a bad credit rating is deemed contagious these days...

subjecttocontract

The reason is that the AST would have to be in the names of both you and your partner ....and if you split up and you move out the landlord is left with a tenant with a bad credit history.

DGJsaver

GFBrown wrote: »

I want to know why if one member of a couple earns more than enough to pay the full rent of their desired property the bad credit, or the financial circumstances in any way, of the other is taken into consideration.

At present I have been told by a letting agency that if I was single and wanted to rent the property I am interested in there would be no problem; I earn enough to satisfy their requirements. However, my partner, who earns more than I do, has a CCJ against him for a small amount and this is affecting our ability to rent together (although I would happily put the property in my name and have the direct debit come out of my account only). Surely we pose less of a risk than a single person who has no fall-back support should they lose their earning ability? Statistically we must be less of a risk, there are two incomes. I can only think that a bad credit rating is deemed contagious these days...

Wouldnt you qualify to be your other halfs guarantor ?

GFBrown

I have thought about that and might put it to the agency, although none of their responses have appeared logical to date. I can't think why it wouldn't be possible to have all responsibility assigned to me; so if I did move out my partner could not live there. I wonder if it's the same for married couples.

subjecttocontract

GFBrown wrote: »

I wonder if it's the same for married couples.

Yes it is.

Guarantors need to be home owners with tangible assets so if they don't pay up a charge can be placed on their property.

GFBrown

Is it not possible to rent as a couple with only one person taking responsibility for rent then? I.e. if we were to split up then only I could remain in the property. That would solve the problem.

subjecttocontract

No I don't believe so.

Hoario54

subjecttocontract wrote: »

...the landlord is left with a tenant with a bad credit history.

Doesn't mean they would have a bad credit future though...:think:

GFBrown

subjecttocontract wrote: »

No I don't believe so.

What would be the argument against it?

inmypocketnottheirs

Personally as a landlord, I do not want the risk of a tenant with a bad credit history. As has been pointed out, if there was a break up of the relationship, and the credit worthy tenant left, where does that leave the landlord. It may seem unfair, but that is the way it is. The landlord may not be informed that the credit worthy tenant had left, and his risk has substantially increased. The alternative would be for a six month tenancy with the rent paid in full in advance.

blue_monkey_2

Can't you rent it yourself and your partner move in later? So AST is in your name? Keep her out of it? There would be no need to mention her if you are paying and can afford it, would there?

But if you split up then the place would be your respoinibility and you would not be able to just leave, they would have to go.