more renting worries

[komakino]

Hi,

I've been on an IVA for about 20 months now. I have a very solid budgeting plan these days and find it quite easy to stick to using a very simple home budget plan (aka THE SPREADSHEET).

I was hoping my current tenancy would last for the IVA duration to save me the obvious pains (been here 6 years already so far) but it looks like to protect my family I would be wise to relocate asap. My landlord of over 6 years has just been taken to court for not paying the mortgage and he's been given 3 months to clear a five figure sum! I'm not to sure he'll manage it. I'm not sure how he was allowed to accrue that much in arrears in the first place. I've never missed a rent payment.

Most letting agencies will insist on a credit check for me, my wife and my mother in law so that's £200 straight away. Both my wife and mother in law are about 50% the way through their own DMPs. When the credit search results arrive, they'll be wanting 3 to 6 months rent in advance and a guarantor by most accounts I've read so far. I have no other family that could be guarantors and very little in terms of savings/money so I'm unsure of how I can remain homed from September onwards

My only hope is to be honest and up front. I'm taking the next few days off work as a holiday in order to work my way round the town's letting agents. I have my previous landlord's letter of reference (also for a 6 year arrears-free tenancy at my previous house). I also have all the copies of my last 6 previous yearly tenancy agreements although I doubt I'll get a reference from my current landlord taking all into account at present. That's over 12 years of letting proof/references. I've also been promised a repayment conduct letter from my IP to arrive possibly tomorrow.

I could try a private landlord instead. Indeed I did over 4 weeks ago when I first found out the news regarding the repossession hearing. However, due to a Landlord's family crisis just before we were about to sign a tenancy the whole thing fell through a few days ago. Doh.

Any advice at all from people who have experienced this situation?

I'll report my finding/responses later.

Komakino

[mole]

Good Luck in your search, there was a really positive post on here recently regarding someone in an IVA who was just honest with the letting agency and got sorted no problem.

You have a good reference behind you and I wonder if your IP can provide a reference (regarding exemplarary payment whilst in the IVA).

Sure someone in the same position can comment further.

[kallis3]

I'm sure you can ask your IP for a reference. I think some posters on here have done so.

[MelanieGiles]

I speak as a landlord of several investment properties, and I would have no problem letting to someone in an IVA - you have demonstrated commitment to sorting your finances out, and will not be able to get any more credit whilst the IVA is in place. I call that a pretty good credit risk!

I also think that you will find most letting agencies pretty sympathetic these days.

[ivas4us]

Hi, Well it seems you have got all the right information to hand to start sounding out letting agents. You can give them a try, just be honest about your IVA and thats the best you can do and as swardean has said others have managed to secure a new property by being upfront. The other option is to speak to your local authourity and explain that you face eviction as your landlord has not been paying the mortgage although you have not missed any rent payments to him. They have a duty under the homeless legislation to rehouse you if you geniunely (which it looks as if you do) are faceing losing your home. Let us know how you get on but please feel free to ask any questions and we will do our best to answer.

[komakino]

Well, I've just spent the last few days doing the rounds. Been to at least a dozen estate agents. There were a few properties we were interested in renting so we told the relevant parties our whole situation. As long as I can get a guarantor I should be OK to rent a place. Therein lies the problem.....wish me luck in finding one!

[kallis3]

I wish you the very best of luck Komakino - I hope you find a new property soon.

[ivas4us]

all the best of luck but it does sound promising.

[MelanieGiles]

Do you have parents or another family member who could help?

[komakino]

The only relations I have apart from my wife and son is my mum-in-law and she lives with us. No parents or other family I'm afraid.

[ivas4us]

I would have a chat with the local council has they can also give advice particular to your own circumstances. They may even speak with letting agents to try and help you secure a private rental. They will certainly offer good advice and also know what options are available to your local area.

[bradleyt]

Unfortunately there are a lot of negative thoughts surrounding people currently in IVA. The worst part occurs when you insist on NOT telling the letting agency about it. The more up front you are the better so just keep plugging away.

[Rainbow]

How old is your son? if he is still in education and or your mother in law is over 60 then the Council have a duty to look into your homelessness and providing you or not intentionally homeless which as your landlord is being repossessed you would not be then the council have a duty to provide you with interim acommodation and then into pem housing. they may well have a guarantee policy whereby the rent from private landlords then rent onto tenants. Contact the Homeless department and let us know how you get on.

[komakino]

Managed to get a house to rent! [:D]

I had to go via the guarantor route. A good friend of mine offered to be gaurantor when I said that I thought I probably wouldn't pass the credit checks as I had found a nice house but it was through a letting agent.

In order to make both myself and the guarantor feel safer about the whole affair, I've taken out an unemployment insurance policy. This will cover the cost of the rent plus a little extra if I should become unemployed through no fault of my own. I urge other people to consider the same. It costs around £20-25 a month to cover £700 a month payable for a maximum of 12 months.

Moving in on Monday!

[kallis3]

That's good news komakino. Glad you have managed to get a new rental sorted out.

Good luck with the move and hope you are happy in your new home.