Hello,
I am trying to rent a flat in London near my new contract place. The idea was to pay directly from my company account. I found a flat I liked, did an offer, the landlord accepted it according with the letting agency and paid £600 of the PTAC (Pre Tenancy Agreement Charge).
I passed the agency the contact details from my accountant as they asked for. They told me the referencing company was the "The Landlord Hub". The day after, the letting agency tells me:
"After having sent your details over to the referencing company unfortunately your company has not passed the criteria that we require.
The only way that we would be able to continue with this tenancy is to pay the entire term in advance, is this feasible?
Another offer has also come forward on the property from a previous viewing that took place before you paid your PTAC payment.
Please do let me know how you would like to proceed."
The reason was, according to the letting agency:
"We have purchased the risk report from Experian and unfortunately the company is failing to meet our minimum criteria in relation to credit limit, credit rating and Delphi score. Their credit limit is £1,600 and the credit rating is £800. Their Delphi score is 56/100, our minimum requirement is 60."
Why is a credit checking of my company needed? I thought they needed to check the state of the company accounts through my accountant. In the bank account from my company I have around £110,000. And I've never asked for any type of credit/loan for my company. I told them from the beginning that I have enough funds in my company.
They last mail (from the letting agency) was:
"Hello,
The reference is checked through Experian so they will reference you on what you have filed through your accounts not what you currently have.
There isn’t a full report as you need to be checked for these credentials first before they put you through the remaining reference process. There wouldn’t be any way to get round this other than paying the rent in advance at this stage which I understand that you are happy to do?
As there is another offer on the table I am going to give you the opportunity to increase your offer as theirs is currently higher than what you have offered.
I look forward to hearing from you and how you would like me to proceed."
So it results they even haven't contacted my accountant.
Could somebody help me or give some advice on how to proceed? I offered to pay the entire 1 year rent in advance. But they are using it like it is changing the initial conditions (in the PTAC), so they could accept another offers.
"Ok so your company will pay the rent upfront still, that’s fine I just need to let the landlord know because the terms of the offer have still changed from monthly to annually."
Thanks
I am trying to rent a flat in London near my new contract place. The idea was to pay directly from my company account. I found a flat I liked, did an offer, the landlord accepted it according with the letting agency and paid £600 of the PTAC (Pre Tenancy Agreement Charge).
I passed the agency the contact details from my accountant as they asked for. They told me the referencing company was the "The Landlord Hub". The day after, the letting agency tells me:
"After having sent your details over to the referencing company unfortunately your company has not passed the criteria that we require.
The only way that we would be able to continue with this tenancy is to pay the entire term in advance, is this feasible?
Another offer has also come forward on the property from a previous viewing that took place before you paid your PTAC payment.
Please do let me know how you would like to proceed."
The reason was, according to the letting agency:
"We have purchased the risk report from Experian and unfortunately the company is failing to meet our minimum criteria in relation to credit limit, credit rating and Delphi score. Their credit limit is £1,600 and the credit rating is £800. Their Delphi score is 56/100, our minimum requirement is 60."
Why is a credit checking of my company needed? I thought they needed to check the state of the company accounts through my accountant. In the bank account from my company I have around £110,000. And I've never asked for any type of credit/loan for my company. I told them from the beginning that I have enough funds in my company.
They last mail (from the letting agency) was:
"Hello,
The reference is checked through Experian so they will reference you on what you have filed through your accounts not what you currently have.
There isn’t a full report as you need to be checked for these credentials first before they put you through the remaining reference process. There wouldn’t be any way to get round this other than paying the rent in advance at this stage which I understand that you are happy to do?
As there is another offer on the table I am going to give you the opportunity to increase your offer as theirs is currently higher than what you have offered.
I look forward to hearing from you and how you would like me to proceed."
So it results they even haven't contacted my accountant.
Could somebody help me or give some advice on how to proceed? I offered to pay the entire 1 year rent in advance. But they are using it like it is changing the initial conditions (in the PTAC), so they could accept another offers.
"Ok so your company will pay the rent upfront still, that’s fine I just need to let the landlord know because the terms of the offer have still changed from monthly to annually."
Thanks
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