Renting Credit Check - advice

jaype

Anyone with knowledge of lettings credit checks - please help! We are about to move to a different area and rent, but I have just realised a potential problem. I only have two years accounts (am self employed) and although partner currently has a job (and will when we apply), he is leaving this when we move. We have our own business (again, he only has two years' accounts). Don't lettings agents usually want three years' accounts? What can we do? I have a potential guarantor as my parents are happy recipients of a gold plated final salary pension, but oh is stuffed as he has no-one (his sister is perpetually living on the social, sadly, and his dad has only a state pension). Can we get our accountant to give a projection of earnings as the third year's amount (the company makes a tidy profit)? We'll be signing up and being vetted before he leaves his current job, but they might notice it's at the other end of the UK... Thanks in advance.

lil_me

Your parents could be your partners guarantor if they are willing and fulfill the criteria. The one we went through didn't accept retired persons as guarantors.

You may be able to get past the credit check issue by offering more rent up front, many have. Not every lettings agent does credit checks.

There is some info on here of what one agency includes in the checks http://forums.moneysavingexpert.com/showthread.html?t=870849

bagpuss_fan

Hi, I'm sure it'll be absolutely fine and your panicking about nothing. Two years of accounts should be ok (if they even ask for them)!

We are trying to sell our house and rent for the first time so I had no idea what to expect. We went to the local estate office and filled out the forms.

On the "how do you intend to pay the rent" question we just put that we were releasing the equity in our house so we could start a business. They never asked for proof of how much money we'd have, or for any guarantors. I'm sure as long as you have a good credit rating you won't have any problems.