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credit check for renting

BillieTheBotBillieTheBot Posts: 8,721 Bot
in Home, Law & Money
We want to move house soon, but two place we looked at, both a letting agency and private landlord said they need to run a bank check/credit check thing. Apparently its pretty much standard to do so now. Does anyone know how thorough it is? We both have a pretty shit credit rating, I defaulted on some credit cards and stuff whilst waiting for the sale of my house to go through, but now its gone through so ive got money in the bank - do you think its likely id get turned down? Im especially worried as one letting agency wanted £120 for doing the check, so itd be a bit of a bastard if it was then turned down.
Ive never had this before, which is weird as ive rented loads of places. It ust be a new thing.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    The main things to worry about are bankcrupcies and CCJ's. On the banking scale 1 good 10 awful credit rating, i'm 9 because of one CCJ ! £120 for a credit rating search is extortionate and you should report them to someone. We paid £30 for ours to get the place we're in now. Plus it's bloody disgusting that the leasee? (you) has to pay. THEY want to find something out about YOU so THEY should pay. I think my bf's rating isn't too good, but he got round it by paying 6 months up front, plus the deposit. Actually he got a £50/month reductuion in rent as he said he'd lose interest on his money by paying 6 months :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    PLUS, you should ask them for a credit rating for your landlord. What's stopping them from just selling the house, or not being able to pay the mortgage when you're moved in.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    thats a good idea Kev. I might suggest that when we move. Itd be cool to not have to worry about rent for 6 months too!
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    not the being bolshy about the landlord :lol: I still want to GET a place.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    SuzyCreamcheese wrote:
    Itd be cool to not have to worry about rent for 6 months too!

    It's quite a nice feeling actually :) Thing is our lease is due for renewal Christmas Day, i hope they let us stay :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I've usually paid around £90 for the check and that's per person! My company I work for charges £100 for all which is not bad.
    My credit rating is shit but they still accepted me. I have a ccj. One rent place did ask me for a guarantor, though.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    so basically the credit check means fuck all?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    yeah because you can be a guarantor unless it is an extreme circumstance and they refuse you. They do need to know credit history of who they are letting properties to though really, they'd be silly to not do it but there's ways around things. And the price is extortionate. I have to do credit/probation checks where I work and it costs us fuck all to do it. But the checks I do are only to housing associations, hostels and councils, the ones they do on your actual credit rating will cost them a small amount.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    They're basically just checking that you're solvent and that you are not living on benefits.

    £100-£130 is the going rate for a credit check, because all estate agents are thieving cunts. It actually costs them about a tenner. Just be grateful they don't charge an "administration" fee too, Keith Pattinson (*spit*) were gonna charge us 1/2 one month's rent plus VAT (in addition to their fee from the landlord of one month's rent plus VAT. Cunts.)

    If they don't think you earn enough or aren't solvent enough they'll ask for a guarantor. Even if you have CCJs you should be fine.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I had this when I moved into my house. My credit is ok as far as I know but it's not brilliant either. I got through the credit check fine even though I claim a small amount of housing benefit. A credit report doesn't show up your earned income or state benefits, just any monies you have borrowed under HP/Loans or unpaid bills.

    The credit check is generally just looking for bankruptcies as far as I know, and even then you can get round it usually by naming a guarantor. I think the estate agents like to credit check you as it's a nice little earner for them and it also stops potential non payers in their tracks as they don't want to lose the £100 fee knowing they won't get the money back if they don't pass.

    Wouldn't panic about it too much :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Kermit wrote:
    They're basically just checking that you're solvent and that you are not living on benefits.

    £100-£130 is the going rate for a credit check, because all estate agents are thieving cunts. It actually costs them about a tenner. Just be grateful they don't charge an "administration" fee too, Keith Pattinson (*spit*) were gonna charge us 1/2 one month's rent plus VAT (in addition to their fee from the landlord of one month's rent plus VAT. Cunts.)

    If they don't think you earn enough or aren't solvent enough they'll ask for a guarantor. Even if you have CCJs you should be fine.
    Finding somewhere to live whilst on benefits is a nightmare.
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