Hi all, just after a bit of advice. I stand to lose CSA payments, child tax credits etc this year due to my daughter leaving college. As a result I need to downsize my rented two bed apartment to a one bed as that is all I will be able to afford (if I can find something dirt cheap!!)I wasn't in an IVA when I took on my current property so passed the credit check with the agent. This time I'm assuming nobody will touch me so my partner who owns his own property has offered to rent me a property in his name as he has good credit, he will pay the rent to the landlord and I will pay my partner. This should enable me to keep paying my IVA. Can I get in trouble for doing this? Otherwise if I cant do this then I will become homeless. The council arent interested unless I get evicted due to non-payment of rent in my current property. I have NEVER missed paying my rent in 6 yrs of renting and so as to keep a good record with landlords.I'm quietly panicking now
So long as your IVA payments are not affected by it you will be fine. Some agencies do not allow "sub letting" so your partner will need to be up front when renting the accomodation for you.
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This sounds a very good idea - but make sure that your partner is able to sub-let the property as you would not want him getting into any trouble on your account I am sure.
No sub letting is a standard term in all the shorthold tenancy agreements I have ever seen - and I used to be a letting agent and have rented properties for myself.
Why don't you find a property you are interested in letting, contact the Agency or Landlord and you should be able to use your Partner as a guarantor as he can show that he has his own Property and you can also show that you have been a good tenant in the past, and that your affordability to maintain the property in not affected by the IVA.
My parents used to let houses, and a similar scenario came up once, they did accept a sub-let as the 3rd party agreed for everything to be set up in his name including payments, a second contract was also drawn up for the actual tenant.
Hope this helps.
Last edited by DebtlineUK on Tue Jan 31, 2012 12:39 pm, edited 1 time in total.
Thanks everyone for the advice (love this site). Must admit I started to get worried especially when no sub letting was mentioned...it was starting to look like I was going to have to live in a tent!! Hopefully the post by DebtlineUK will be an option for me. Thanks all
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A guarantor has to have substantial income and no other outgoings and be willing and able to prove this. Our guarantor had to be able to prove they could cover our rent for a period of 12 months on top of their own outgoings. They will also have to be credit checked and this will also have to be paid for as if it were a separate applicant.
My partner pays his mortgage & normal household bills but does have a decent wage; also I will be paying the rent amount into his account by direct debit anyway, just as I have always paid my rent to landlords for the last 6 yrs. As for the credit check...surely it will only be him who has to be checked and not me as it will all be in his name. I've always had to pay the credit check fees in the past anyway. Bit of a rip off though as my last credit check involved the agent just ringing previous landlord to see if I had ever missed any rent payments and a call to work to check I was an employee, for those 2 short phonecalls they charged me a whopping £120. Even Dick Turpin wore a mask!!
