Rent and mortgage advice

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CarlosG

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Post by CarlosG » Mon May 18, 2020 12:47 pm
I have just had my full and final settlement agreed with Creditfix. Myself and my wife are looking to rent elsewhere due to a new job and wanted guidance on whether Estate Agents will accept us as tenants. Will there be a requirement to have 6 months rent upfront as well as a guarantor? We also wanted to know who would be the best person to speak to about mortgage application for the future

kallis3

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Post by kallis3 » Mon May 18, 2020 1:16 pm
You can always speak to either Ryan or Shaun who are our resident mortgage experts. As to renting - private landlords are usually the best to try.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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Foggy

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Post by Foggy » Mon May 18, 2020 1:25 pm
Your IVA will be on your credit files until 6 years from the start date and will make you fail a credit check. Some letting agents work around this with more rent upfront, larger deposit or a guarantor --- or a combination of these. It varies from agent to agent. As Kallis says, you are more likely to have better luck with a private landlord who might not credit check.

Regarding mortgages: Again you really need to wait out the 6 year mark and get together a reasonable deposit. We have two brokers on forum who have considerable experience in adverse credit applications and much success in placing mortgages for us ex-IVA'ers with reasonable rates.

Their details can be gleaned from their profiles here:

Ryan: memberlist.php?mode=viewprofile&u=18488
Shaun: memberlist.php?mode=viewprofile&u=22837
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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CarlosG

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Post by CarlosG » Mon May 18, 2020 3:58 pm
Hi, and thanks for the advice so far and will get in touch with Ryan / Shaun at some point this week regarding our circumstances.

luluj

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Post by luluj » Tue May 19, 2020 4:50 am
Fingers crossed for your new job and good luck in getting on the property ladder.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

CarlosG

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Post by CarlosG » Tue May 19, 2020 8:48 am
Thank you very much. I am awaiting my completion certificate so I can send these to Call Credit, Equifax and Experian so they are notified that I have now paid and settled the IVA. Im actually going to have a good look at private landlords and see how I fair with them to start with and hope to get some clarity regarding mortgages for ex IVA ers.

Shaun Vickery

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Post by Shaun Vickery » Tue May 19, 2020 9:06 am
Well done on getting this far! In terms of any mortgage application it can never do any harm to start preparing as early as possible - even if you aren't intending to but immediately. There's often a little bit of planning to do and, even if you wouldn't qualify immediately, at least you will have a good idea of where you need to get to. It always helps to have a plan!
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