I am trying to find a rented property, but I am very nervous about my tenant checks, as I know I am going to fail the credit check due to my IVA. I was upfront with the letting agency when I asked to view the property and I declared my IVA on the tenant application forms after I viewed the flat and said I’d like to apply. I have offered a guarantor upfront who earns way over the required amount, is a homeowner and has no adverse credit history. The letting agency spoke to the landlord regarding my application (so I assume they discussed my IVA and my guarantors information) and the landlord says he is happy to continue with the application and start the referencing.
Do you think I am likely to fail referencing due to my IVA? Even though I have declared it upfront.
Also, it may be important to add that I cannot give a landlord reference as this is my first rented property. I have previously been living with family/friends as I am only 23 years old.
Does anyone have any advice based on experience with renting during an IVA? Sorry, I suffer quite badly with anxiety and this referencing is making me worry a lot!
As they know about the IVA upfront, I would think that this will not be an issue. They will carry on with the referencing to see if anything else comes to light, which is unlikely.
We had one forum member, a while ago, go through this and it turned out that the landlord had, at one time, been in an IVA himself, so understood.
Being in an IVA actually, in my opinion, puts you ahead of other applicants as your finances are well known and scrutinised and the rent has been ring-fenced in your budgetting. Add to this a good guarantor and I think you have every chance of success.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk