symo Posted June 9, 2008 Share Posted June 9, 2008 Check out this gem I found on the BBC website regarding rents. http://www.housepricecrash.co.uk/forum/ind...showtopic=79054 Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted June 9, 2008 Author Share Posted June 9, 2008 If the tenant of a BTL doesn't pay his rent and the BTL owner misses his mortgage payment, is the credit rating of the BTL owner affected? Would this affect their subequent ability to remortgage? VMR. Quote Link to comment Share on other sites More sharing options...
eek Posted June 9, 2008 Share Posted June 9, 2008 If the tenant of a BTL doesn't pay his rent and the BTL owner misses his mortgage payment, is the credit rating of the BTL owner affected?Would this affect their subequent ability to remortgage? VMR. Yes because its the BTL owner who is the one in the credit records. In fact not paying your rent late is a harmless activity that credit record companies won't record, a missed mortgage payment will definitely be recorded. Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted June 9, 2008 Share Posted June 9, 2008 (edited) Mortgages & Houses think it's a contributory factor: "A bad credit score will reflect a history of failed repayments on credit cards, loan schemes, outstanding bills for home utilities, missed mortgage repayments and overall bad money management." Guess it depends on the lender. I think one would have ask how many strikes it takes, but seeing as 3 missed payments seem to trigger all kinds of hysterics (court orders and such), it would not surprise me if one missed payment showed up. PS : I hope you'r not going to use this as some kind of blackmail leverage with which to get you flat a new 60" panel monitor for the World Cup! Edited June 9, 2008 by Sledgehead Quote Link to comment Share on other sites More sharing options...
frozen_out Posted June 9, 2008 Share Posted June 9, 2008 Mortgages & Houses think it's a contributory factor: "A bad credit score will reflect a history of failed repayments on credit cards, loan schemes, outstanding bills for home utilities, missed mortgage repayments and overall bad money management." Guess it depends on the lender. I think one would have ask how many strikes it takes, but seeing as 3 missed payments seem to trigger all kinds of hysterics (court orders and such), it would not surprise me if one missed payment showed up. I haven't requested my file for a while, so I don't know if they have changed but last time I did 1 missed payment on a credit card definitely showed up, I think it's shown for 12 months. As I recall there were missed payments of 1 month, 2 months and >3 months recorded. Anyone know if a missed mobile phone payment shows up, I'm a bit slapdash when it comes to paying those. I should set up a DD really. Quote Link to comment Share on other sites More sharing options...
Papitogrande Posted June 9, 2008 Share Posted June 9, 2008 Anyone know if a missed mobile phone payment shows up, I'm a bit slapdash when it comes to paying those. I should set up a DD really. Mobile phone companies are one of the worst around and will usually register a missed payment after a few days. For anyone interested in this subject it's worth noting that what used to be acceptable to most lenders (odd missed cc payment, a cheeky <£250 CCJ) is now almost seen as sub-prime. As this stuff stays on file for 6 years it's worth keeping on top of if you think you may need credit in the future. As an aside I have a promo-code for call-credit if anyone wants a free copy of their credit report and score Quote Link to comment Share on other sites More sharing options...
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