Letting agent credit reference check

[helenjs]

Hello

 

My partner and i have just got the ball rolling for renting a flat together, we have paid the letting agent a fee which covers the 'reference search'. Apparantly this is to check our employment etc and also our credit history. I am slightly concerned however as i know i have a couple of defaults on my file, (hundreds not thousands), apart from that i have no ccjs or bankrupt issues. Is this likely to result in us getting turned down for the flat? My partner has a completely clear credit history, also he is the main income earner. My name will be on the tenancy though. Any help would be appreciated

[rebel11]

Thread Moved.

[Steve__M]

The way it works with agents I have used is that the reference firm supplies a basic score (just a number). The agent will have a particular number above which you need to be. If you are above it, then fine.

 

If you are below it then rather than just reject you, they may want you to find a guarantor or possibly to pay rent in advance (my friend currently pays rent in 6 month chunks because he's recently started as a contractor so has no earnings history for example).

[helenjs]

Thanks for your reply.

 

This score that they obtain, do you know how they come to it, i mean is it just from the credit score or do they calculate it from a number of factors?

[MrShed]

As the score they obtain is from the credit ref agency, its just from that.

[Steve__M]

They are very secretive about how they score people because their method is essentially the product they sell and is probably full of all sorts of horrendously non-PC factors (owner of a Matalan store card? - score minus 10 etc.)

 

You could find out which company they use and buy your score off them which might be indicative. As a landlord I looked into using a company that charged about £25 per tenant for a credit score.