Will I be able to rent with an IVA

[Lewy]

I'm new here and have a little query. I have an IVA since June 06, the problem is that My partner and I have split up and I need to rent a property as I believe that I am unable to get a mortgage with an IVA. I am currently in rented accomodation with my ex partner. Will I be able to rent with an IVA or will this affect me? thanks in advance

[MelanieGiles]

Hi Lewy and welcome to the forum

There should be no problem in renting through your IVA, but some landlords will do a credit check. it might be better to try and find a private landlord, rather than going via an estate agency.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

You can potentialy get a mortgage while in an IVA but you will need to get the express permission of your IP to do this and also will likely need someone to fund your deposit for you.

Renting shouldn't be an issue, but you should be up front about your IVA with potential landlords as you may be credit scored. A larger deposit or rental agreement with a private land lord should overcome this.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[iva experts]

Welcome to the Forum Lewy,

I would contact your I.P as soon as possible and express that your circumstances have changed. The only concern would be if your new landlord wanted a larger deposit, but im sure that you could arrange something with your I.P.

Best Regards. IVA Experts

[iva_squirrel]

Hi lewy,

I suggest you speak to your IP regarding this new situation. Renting wont affect your IVA but if your monthly rent decreases or if your partners income was included previously as part of joint income / expenditure then you will have to ask for a variation meeting and provide new figures.

Regards,
Michelle P.