What do Estate Agents Look for when doing a credit check?

Nowadays almost all estate agents will want to run a credit check on a potential tenants, and in some cases buyers too. In doing this check, they are able to determine whether you are indeed who you say you are, but they are also better able to judge whether or not you are likely to be able to fulfill your payment duties. By verifying that you are who you claim to be, they will, in theory, be able to track you down should you not be able to make payments.

They will also be wanting to check that you are not bankrupt, and see whether you are on the electoral role - they can then ensure that there are no County Court Judgements against you.

There are no definite rules for what an estate agent will look for when running a check. If you were rejected when you submitted a credit card application this might show up as a black mark against you, although it may depend on which credit card you applied for, as criteria will not be the same for all credit cards. If you were rejected for a credit card it does not mean that you will definitely be rejected by the Estate Agent.

Remember also that even if you do not pass your credit check, you may be able to use a guarantor: someone who will be responsible for paying any balance owed if you default on a payment, so a bad credit rating does not necessarily mean that you will not be able to deal with any estate agents. Ultimately, estate agents want to check that they will be recompensed for their services.