Selling house - moving to a rental - credit checks
Discussion
I'm in the position, providing that the buyers stop pissing about, to move out soon and into a rental. The choice was made to keep the chain as short as possible and to be an attractive buyer when the time comes; thankfully it turned out that the buyers are first timers, so it's only the two of us.
Initially i was hoping that i could pay 6 months rental up front and then find a place to buy in that time and move into my own home. Thus keeping my credit score clean.
However, the way things are moving at the moment, it seems that 6 months may not be enough and i may need to find a rental place for longer than that.
Due to how slow the market it moving and that landlords are not keen on 6 month contracts, even if paid up front.
Given that i will have no debt and very little in outgoings, will a credit check for the rental have a negative impact on getting a mortgage a few months later?
i.e credit check this month, to move into a rental, and then i find a place i want to buy in December; so applying for a mortgage.
Do mortgage companies take certain situations into account, or is it along the lines of "computer says no", because you only had a credit check last month for a "large" outgoing. I'm hoping that the mortgage company is sensible enough to understand that a recent credit check shouldn't have a negative impact.
Or should i keep looking for a way to just pay up front and avoid any checks on my credit file. Which at the moment, seems healthy.
Experian 999 out of 999, Clear Score 499 out of 700.
Initially i was hoping that i could pay 6 months rental up front and then find a place to buy in that time and move into my own home. Thus keeping my credit score clean.
However, the way things are moving at the moment, it seems that 6 months may not be enough and i may need to find a rental place for longer than that.
Due to how slow the market it moving and that landlords are not keen on 6 month contracts, even if paid up front.
Given that i will have no debt and very little in outgoings, will a credit check for the rental have a negative impact on getting a mortgage a few months later?
i.e credit check this month, to move into a rental, and then i find a place i want to buy in December; so applying for a mortgage.
Do mortgage companies take certain situations into account, or is it along the lines of "computer says no", because you only had a credit check last month for a "large" outgoing. I'm hoping that the mortgage company is sensible enough to understand that a recent credit check shouldn't have a negative impact.
Or should i keep looking for a way to just pay up front and avoid any checks on my credit file. Which at the moment, seems healthy.
Experian 999 out of 999, Clear Score 499 out of 700.
bunchofkeys said:
one of the same, isn't it?
A check is needed, when making an application?
Not necessarily one and the same.A check is needed, when making an application?
I have a look at my credit file a few times per year (due to a historic case of identity theft), and listed in the report are a myriad of searches, mainly from various insurance companies when I obtain annual car & home insurance quotes. None of these are credit applications, since I pay for insurance upfront, and I assume that the searches are done to verify that I exist and that I live at the address that I said I do.
There is even a search done by Royal Mail when I applied for a post re-direction, presumably for the same reason to verify that my address was genuine.
None of these searches relate to any credit applications that I have made, and all actual credit accounts are listed in a separate part of the credit report.
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