Tenancy checks post IVA

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Amy.j
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by Amy.j » Mon Sep 17, 2018 7:54 am
Hi, in May 2016 I went into an IVA and in October 2017 I made a fully and final settlement and now have my completion certificate. I am in need of some urgent help, I live with my partner and his parents at present, his parents feel they want to ‘down size’ due to expenses and they rent the house we live in. They have offered us to move with them or to find a property for ourselves! I’m really worried as we or they will go though an estate agents but what will happen in regards to the credit checks? They said I would need to be on the tencacy as I will be living in the property and I’ve really no other choice! :-(
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Foggy
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by Foggy » Mon Sep 17, 2018 8:08 am
Amy.j wrote:
Hi, in May 2016 I went into an IVA and in October 2017 I made a fully and final settlement and now have my completion certificate. I am in need of some urgent help, I live with my partner and his parents at present, his parents feel they want to ‘down size’ due to expenses and they rent the house we live in. They have offered us to move with them or to find a property for ourselves! I’m really worried as we or they will go though an estate agents but what will happen in regards to the credit checks? They said I would need to be on the tencacy as I will be living in the property and I’ve really no other choice! :-(


You need to check with a letting agent, but all adults living in a property do not need to be on the tenancy agreement. The agent will require them to sign a disclaimer, relinquishing any rights to remain in the property that they might otherwise acquire by reason of residence.

If you do have to suffer a crdit check, make sure that the file is as clean as it can and that the IVA is at least marked as completed. Unfortunately the IVA and the defaults will all still be there and, if you were applying on your own, you would normally fail a check. However, the parents good standing might well overcome that. Do they know about the IVA ?
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Lisa Thomas
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by Lisa Thomas » Mon Sep 17, 2018 8:57 am
Does your partner have good creditor? Perhaps the agreement could be in his name only.

Not all landlords do proper credit checks and those that do may not be bothered about an IVA.

Worst case scenario you may need a guarantor.
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