Make sure you get it in writing and have a contract in place if you go down this route. If you have a low credit score but you’re working to improve this and are confident you can afford the rent and manage your money in the future, there are a few things you might be able to do.Ī landlord might agree to taking a few months’ rent in advance to assure them you can afford to live at the property.

What if your credit score is too low to rent? If your score is low, a landlord may be reluctant to rent to you, as they could be worried you’ll miss rent payments in the future. Landlords want to know that you’re going to pay your rent, in full and on time.

Here are the key numbers for each credit agency:

An 'excellent' credit score shows responsible borrowing and a near spotless record of meeting repayments and paying bills on time.

A 'good' credit score shows that you had a solid borrowing history, perhaps with a few small blips.

But you are likely to stand a better chance if you have a ‘good’ or ‘excellent’ score: There isn’t a specific credit score landlords will be looking for when you apply to rent a home. What credit score is required to rent a house or apartment? These can temporarily lower your score, so avoid too many applications in a short period. Registering to vote can improve your score and help verify who you are.Īpplying for certain types of credit requires a “hard” credit check. You need to have a borrowing history to form a credit file, which your score is based on. Paying bills late can cause your credit score to go down. What can you do to improve your score?Ī default is when you fail to meet a repayment, for example, missing a loan repayment. Your score is one of the things we look at when considering whether to offer you a loan, mortgage, credit card or other type of borrowing.īuilding up your credit score increases your eligibility in the future when you look to take out your first mortgage or other borrowing. Lenders may use credit scoring to help decide whether you’re likely to repay money you borrow.

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