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Original poster

Renting privately and rubbished credit rating - can i do it?

18 replies

Citronella · 18/03/2008 20:26

A bit worried that i may not pass muster at a credit check. In my favour, have my own (good) income and always paid mortgage but dire debt situation.
Do have to pass a credit check and has anyone done this?
Appreciate any help!

OP posts:
staryeyed · 19/03/2008 17:08

I think it depends how bad your credit is. Do you have CCJs?

If it is bad it may help if you have someone who can act as a guarantor or if you can pay 6 months upfront.

llareggub · 19/03/2008 17:30

I bought some sofas a few years ago and the salesman told me in passing that the credit company they used didn't bother with credit checks for items under £1000.

terramum · 19/03/2008 17:34

We have an awful credit rating (although no CCJs) & have used my Dad as a guarantor to give us a boost....but you might find that avoiding letting agencies you can avoid the credit check thing & just get some good references...

davidtennantsmistress · 19/03/2008 17:36

yes you do, and I had to have a guarantor which was at the owners discretion.

best way is to be up from wiht the letting agent, apparently they don't mind so much about late payments etc. but do for more serious issues.

llareggub · 19/03/2008 17:40

Oh, it is for renting. Sorry, missed that. I'd be upfront and honest, it works wonders.

pinkystinky · 20/03/2008 08:38

Sorry for hi jacking thread!
oes a guarantor have to be employed? Or just have enough money coming in to cover rent ?

davidtennantsmistress · 20/03/2008 08:50

for mine pinky, it had to be full time employment earning 3 times the rent (don't ask!) also a perm contract.

when we were going to use dad as well as mum because he's SE they wanted more paper work etc & tax returns etc etc so we ended up using just mum as it was easier all around.

MissyTheFlouncer · 20/03/2008 08:52

well we were made bankrupt lost our home and now rent. my mum is a guaranteur

caykon · 20/03/2008 09:09

i have 2 houses we rent out, and even though I don't use an agency to manage my properties I have to insist on a credit check. This is due to the insurance I have for the property and without the credit check it invalidates it.
But it does seem it is mainly agencies that ask for credit checks and not so common if you are dealing direct with the landlord.

terramum · 20/03/2008 11:27

No pinky they don't have to be employed. So long as they can prove they have sufficient money coming in to cover the rent. My Father is retired & has been accepted three times now as guarantor for us with a letter from his ex-employer & the credit check forms where needed. When I first mentioned he was retired they looked at me like I was mad (I think they assumed impoverished 80 yr old ) & said they couldn't possibly...then I told him how much his income actually is & they very quickly said it would be fine with a letter...

pinkystinky · 20/03/2008 11:46

Ahh thats a relief! We went bankrupt 4 years agoy'see. Have been upfrot with agents and they have said no.One said we could if we could get a gurantor.FIL offered to be one for us,but i was worried in case you had to be employed,as he is now retired!

MissyTheFlouncer · 20/03/2008 13:39

well my mum was able beacause she earnt a certain wage so we were ok but that might be different for different agents

have they done a check on you yet? our was actually fine and we would have been fine without my mum!

i would have thought 4yrs on you'll be ok?

MissyTheFlouncer · 20/03/2008 13:41

lol at terramum

VictorianPASqualor · 20/03/2008 13:46

When we have rented we were told we had to be earning 3x the rent. That's the basic check, and then if you're not they assume you can't meet the rent so need a guarantor, who has to have an income of similar means or have the money elsewhere, for example a house with no mortgage.

pinkystinky · 20/03/2008 13:54

So would i, never been in rent arrears, always paid on time,been in this house for 4 and a half years, good wage coming in.We are in a BETTER situation financially than we've been in for a long time!
Its because the bankruptcy is still showing on credit reference files when they do the credit check( only 2 years till all defaults etc fall off!)
Would have been happy to stay here, but gonna have to move to get dd a place in secondary school( the one they have given her a place at she does not want to go to as shes getting bullied from some girls)
Just waiting to see if my appeal gets the "yes" vote, have sent in gps letters to admissions dept, so shall see!!

itsahardknocklife · 20/03/2008 14:10

I was in the same boat as you - good income but poor past (went bankrupt a couple of years ago). We are privately renting. Most landlords / agents wanted a guarantor, which we didn't have, but we found an agent that was happy with just a letter from my employer stating my income. Agents all work in different ways.

Original poster
Citronella · 20/03/2008 21:52

Wow thanks for all the messages. Last time I looked there was no one so kind of gave up.

I think i'll approach it in a combination of your responses

  1. be upfront about score situation
  2. good salary will cover 3x rent
  3. Could, if I had to, put six months down
  4. Could probably get employers to write or show a copy of last compensation letter.
  5. I would not be able to provide a guarantor.

I think next time i speak to the agent I will broach the subject.

Fingers crossed and thanks again for all your responses!

PS - Staryeyed - no, no CCJs

OP posts:
itsahardknocklife · 20/03/2008 23:06

Yes ask agents upfront how they do checks and be honest. They should hopefully be honest back.

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