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phlegmatist

Another Question About Credit Checks

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Hopefully I should be starting to rent soon and am somewhat concerned about the credit reference check that agents require.

I know that my credit rating isn't wonderful (that's one way to put it !) and am worrying about it reducing my options when it comes to finding somewhere to rent.

I read someone say on another post that, even though he was bankrupt, the credit check didn't stop him renting - is that realistic ?

That said, I'm planning to offer 6 month's rent up front - will they still want to do a credit check ?

If the credit check is likely to be a factor for me I may be restricted to private rentals, which may be OK, but will, of course, reduce my choices somewhat.

Grateful for any advice.

Simon

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Any reputable agent should do a credit check under any circumstances. Same for any knowledgable landlord also. However, any experience letter will know to take other considerations into account also, and obviously if you are paying 6 months up front this almost totally compensates for any bad credit check. However, they should and probably would still do it, for at least three reasons:

- To evaluate the viability of you as a continued tenant after the fixed term.

- Very very generally speaking(by no means everyone - my own credit rating is lower than Sunderland in the premier league!) the poorer the credit rating the more badly behaved the tenants. As I say this is extremely general, but is a partial consideration.

- To check the honesty of the tenant in declaring such things.

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Any reputable agent should do a credit check under any circumstances. Same for any knowledgable landlord also. However, any experience letter will know to take other considerations into account also, and obviously if you are paying 6 months up front this almost totally compensates for any bad credit check. However, they should and probably would still do it, for at least three reasons:

- To evaluate the viability of you as a continued tenant after the fixed term.

- Very very generally speaking(by no means everyone - my own credit rating is lower than Sunderland in the premier league!) the poorer the credit rating the more badly behaved the tenants. As I say this is extremely general, but is a partial consideration.

- To check the honesty of the tenant in declaring such things.

Hi,

When I spoke to an estate agent about the credit check, they told me that it was not a case of analysing your credit score, but a simple background check to see if you had any CCJs or bankruptcy held against you.

I offered 6 months up front and was still told that they would still do a check.

The offer was put in last Friday, and today I was told that the owner had changed their mind and was taking the house off the market! (This was before the pre-budget speech).

What does that tell you though?? House had been on the market for a week or so.....

HTH

BR :)

Edited by BlueRhino

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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