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Need to relocate and rent a property but have a bad credit rating.

Please help. I have been advised to go bankrupt. My situation has changed due to becoming widowed. I continue to work and have never defaulted on a mortgage payment but work is also changing base. Moving house is the best option to reduce costs of travelling which are high at the moment and allow me to continue employment. Will my bad credit rating affect my ability to rent? I have children so do not want to move to a 'bad' area for our safety. I have lots of worries about what to do regarding renting, should I contact the letting companies direct? Thank you for your help in advance.

Asked on Jul 6 2013, Home Finance in Heywood | Report content

Answers (1)

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  • Hi mlbibs, Speaking to the lettings agency should always be the first port of call if you have a situation like yours to deal with. While many will have rules in place regarding credit ratings and the sort of people they can accept, these do not have to be hard and fast. The fact that you have never defaulted on a mortgage payment and have a continuous line of work and subsequently a steady income will stand you in good stead with any agents and definitely increases your chance of getting a rental with them. However, you can also take note that many lettings agents don't actually even carry out credit checks, and as long as you can prove things such as your employment, your income and the fact that you have been able to always meet previous payments - with a reference for example - then you should be fine. Many thanks, Scott

    Answered on Jul 8 2013, Report content

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