Moving in consquences

[leecamowol]

Hi,

I'm don't fully think this is relationships and dating but sort of is ... my new friend wants to move in with me... we both want to share with someone after both coming out of long relationships. This is fine as it means you can save money and have a nice housemate.

However he has also said he wants to be honest and that he has a very bad credit rating and won't pass any agency checks ... so he wants to sublet from as such which is fine as long as no-one gets told. But the problem I'm thinking is that I've been told that credit rating is linked to the property not the person, i.e. if he buys stuff, gets into more debt whilst living at my house with my address, will that mean firstly I get bad marks on my credit file and secondly that bayliffs could come and take my stuff away??

Thanks guys!

[kelbillug]

Irregardless of if your credit rating would suffer, do you trust taking in monthly rent from this person? It sounds like his money management skills aren't very good, and rent could likely be put on hold for extravagences.

If you have any doubts, I'd say you should save yourself the trouble and find a housemate that will be included on the lease agreement. That way, you won't be left fully responsible.

[banjosister]

I would agree. How many months rent do you think you would let him owe you before you felt the need to ask him to leave? Asking friends for money is always difficult.

You know the guy how much do you trust him?

[WendyS]

If I were you I would be VERY wary of having a flat or house share with this individual or subletting. It may sound fine in principle and I can understand all the positive reasons you are finding to justify doing it but people with bad credit ratings normally accumulate them over a long period of time because they simply can't or won't manage their finances in a disciplined manner. And if it starts off OK for a couple of months and the rent then doesn't start appearing in full, on time every month when it's due, how are you going to handle this relationship? Kick him out? Or get yourself in debt covering his share of the bills too?
These columns are full of individuals complaining that their friends have let them down financially or not repaid debts. Live solo, keep your finances separate and continue being good friends. It's probably safer in the long run.