Can I enter into a property rental agreement

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Debbie.29

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Post by Debbie.29 » Tue May 18, 2010 12:23 pm
Can I enter into a property rental agreement whilst in an IVA? I currently live in the ex-marital home, still paying the mortgage, but now ex has applied to the court for the sale of the property. I won't have enough money for huge deposit needed on another mortgage due to being in an IVA, but also scared I won't be able to rent a property as will fail the credit check. Also, don't really have anyone who could stand as a guarantor for me - what can I do?
 
 

Shining

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Post by Shining » Tue May 18, 2010 12:30 pm
Hi Debbie and welcome to the forum. Could you get council housing or is it private rental you're looking for? A lot of private landlords advertise without the use of an agency and often don't credit check. Others will be along soon with more advice. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Michael Peoples

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Post by Michael Peoples » Tue May 18, 2010 1:05 pm
As lesley says private landlords normally cannot get a copy of your credit file so may be happy with a reference from your employer and perhaps a copy of your mortgage statement to show it was up to date. Alternatively, if you do use an agency be up front and if you need a deposit or bond as a result request these funds from the sale proceeds when you go to court.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Debbie.29

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Post by Debbie.29 » Tue May 18, 2010 1:28 pm
thanks both for coming back to me so quickly, really appreciate it.
I was trying to apply for rental properties through rightmove.co.uk, which essentially advertises rental properties that estate agents/property rental companies manage - so far, all properties that have been suitable require a rental application which consists of a credit check. I have provided a comprehensive email to 2 agents explaining my situation (i.e. I earn over £50K a year, stable employment, mortgage up to date, but had to enter into IVA due to break down of marriage and huge debts which ex refused to contribute towards - all the debt was in my name....I know, I know!!).
Both have come back with a similar response, additional bond money needed (no a problem), but also guarantor who will pass credit check, have no one I can really ask. Don't suppose you know of any rental agencies that specialise in IVA cases?
 
 

Adam Davies

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Post by Adam Davies » Tue May 18, 2010 4:24 pm
Hi
As most rental agreements are on a six month short term agreement you would think that a six month deposit would be enough and there would be no need for a guarantor.
Regards
Andam Davies
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