Question : When renting a flat will the credit check be the same type of check as applying for a loan?
I am really interested in renting a property which I went to view at the weekend. The agency have said that as well as supplying two professional references I have to have a credit check done if I fail it I will still have to pay the £100 admin fee. Will this be a proper credit check, like applying for a loan or a mortgage?
- asked by Lolly
All Answers:
Answer #1
yes it will
- answered by angie
Answer #2
yeah i think so as they want to know if you payyour bills or not.and if not you will not make agood tenant
- answered by minime
Answer #3
yes, if u go through a professional lettingagency, they will do a proper credit check, likethose that u undergo when applying for a mortgageor loan.
- answered by karen g
Answer #4
yea.credit checks will be the same if its anestate agent doing the check.if its the landlordyou might get away with it.do a credit checkyourself first. for £2 fee. a company calledExperian ltd will send you your credit status. write to Experian ltd,consumer help service,po box8000,Nottingham,NG1 5GX
- answered by Nico
Answer #5
Similar I think! They check to see if you haveany debts, and to see if you are able to pay therent. A loan is very similar.
- answered by chloe
Answer #6
Note quite, they will just be checking for Adversehistory!
- answered by djp6314
Answer #7
yep
- answered by den invent
Answer #8
Yes its the same.....but a £100 for a check thatcosts £2 is a blatant rip off....find a morereputable agent.
- answered by lloydthebear
Answer #9
They usually contact your bank to verify yourearnings and potential to pay. Sometimes they usethe same external agencies as they would if youwere applying for a loan. This is standardpractice in the UK when you are renting. Someagencies even ask for references from previouslandlords, and ask for guarantors. Make sure yourfinancial affairs are reasonably in order and thatyou have people to back you up financiallyespecially if you are young.
- answered by Eleanora
Answer #10
I ask my Letting Agent to obtain 3 references -bank, employer and previous landlord and havealways found this sufficient. I don't think youshould be asked to pay for any kind of creditcheck, whether they call it "admin fee" or"daylight robbery"However, since you areeffectively being asked to pay for this creditcheck, you are entitled to know what form it willtake. I know you want this flat - otherwise I'dsay walk away, because it is illegal for a LettingAgency to ask you for any money - all fees arepaid by the landlord. So, ask them who will becarrying out the check, what form it will take andif they are at all hostile, point out that sinceyou are paying, you're entitled to know. If theysay "oh you're not paying for the actual check,you're paying for our admin costs, then you havethem bang to rights. Open your eyes very wide andsay "Oh, I'm sorry, I thought Letting Agencieswere not supposed to charge tenants"It's up to youhow far you take this, love, but there are lots offlats to rent at the moment (all those whorecently jumped on the buy-to-let bandwaggon) soremember you are in a strong position. It's uslandlords who are having to look for tenants andkeep the rents down, and if the landlord of thisflat uses a bent Letting Agent, I'd be inclined towalk away.
- answered by amsterdam
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