www.iva.co.uk

Is it possible to rent whilst in an IVA?

I.E. Will the rental agency run a credit check on me and thus not let me a property due to my very low credit score?

It varies TT. Some asgencies run just a basic ID and address search, others do a full credit check. However, if you are honest with them they can sometimes accomodate IVA applicants by either increasing the deposit or more months rental upfront.

Hi,

Yes, it is possible to rent in an IVA. The agency may run a check on you which is why sometimes it is better to use a private landlord.

You may find that you either have to find a guarantor or put up six months rent in advance.

I would imagine agencies do credit check but private landlords possibly won't so it's worth looking in the local press for houses to rent too x

We will need to go through an agency really due to it being a re-location so the internet is the source we are using to find suitable property. Trouble is we need to let our present house out first so we know we are in a position to go, so it could get tricky.

Nothing is ever simple is it !!

It certainly isn't!

Best thing to do is be upfront - they will do a credit check so best they hear it from you. As Foggy says you may have to pay a few months up front (sometimes as much as 6) or find a guarantor to back you up. If you are willing to do so and the agent you speak seems resonable you could show them your basic I&E budget showing the rent built in so that they can see you have planned this and can afford it. The reality is you are probably a safer tenant than someone who hasn't got a clue what their budget is.

Let us know how you get on.

Regards,

Hi - I'm living proof it's possible to rent whilst in an iva! Are you both in ivas? If not, one can get the rental in their sole name. If you are both in the club, just be upfront with a couple of agencies and start searching with those who can work with you. They may be reluctant initially but probably because they dont understand what it is. The iva can be mitigated by a double deposit, a guarantor, six months upfront or paying slightly over the odds. It is more difficult with an iva but there are ways around it!

Many of my clients have been successful in securing private rentals whilst in an IVA, but most letting agents have a duty of care to their clients to perform thorough credit checks, so it is best to be up front with the agency about your financial circumstances. A reference letter from your IP confirming that you have maintained a good payment history could be useful.

Just found this as my gf and I are thinking of renting a place together later in the year and she was worried about my credit rating. Given us some hope.

Hope you get it sorted Tom and I look forward to hearing you have been successful!

Hope you can get somewhere Luke.