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Renting with a bad credit score?

On the sale of my property we are moving to rent in Wales (Pennar) however we have a bad credit rating. We intend to pay off all debts before we move, will this make a difference? any advice would be helpful. Ps, these debts were incurred when I was made redundant. regards Mr. J. Perfect

Asked on Jan 29 2012, Renting in Birmingham | Report content

Answers (3)

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  • Hi, some landlords / agents may still accept your application if you can pay 6 month's rent up front. Usually with a caveat that the rest of your referencing passes ok, i.e. affordability (earnings to rent ratio), employers reference, landlords reference (difficult if you are a homeowner - but try getting / giving a mortgage payments statement to show no arrears), fraud check and residentancy check. Provided all of these elements are satisfactory and you can provide evidence of id, residency (utlities / other bills) bank statements, and wage slips your landlord / agent should be able to consider your application. You may also be required to provide a guarantor, plus either set up a direct debit / standing order to pay rent in advance from end of month 4 (of a 6 month tenancy). Hope that helps

    Answered on Jan 30 2012, Report content
  • Its worth checking with the letting agent as all agents are different. We, as a Letting Agent, require Guarantors for all our tenants so any poor credit history doesn't really make a difference with us as we don't carry out credit checks.

    Answered on Jan 31 2012, Report content
  • A company will be helpful here. I guess you are aware of such companies that help people rent even with bad credit. I think that's the best choice for you. I suggest you check out EZ Lease Rentals, as I've personally tried it and I highly recommend them.

    Web reference:

    Answered on May 6 2013, Report content

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