PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Bad credit. Need to rent REALLY BADLY. What can i do?!!
Comments
-
As stated on previous posts, we will struggle even to acheive one month's rent up front so 6 months is just impossible. If we had that sort of money to hand I would not be needing to sell in the first place.
Haven't read your other posts, but you are going to need more than one months rent upfront. Even if you go with a private landlord so no admin/credit fees you will need a deposit of at least 1 month - more commonly 11/2 months in my experience - + your 1st months rent in advance.
Hopefully your council has a bond scheme as mentioned by Fred1. Otherwise you need to flog some stuff/do some fast moneysaving to cobble together a bit more cash.0 -
Thanks for your replies everyone. It's made me feel a bit more positive and me and my partner will make some enquiries with private landlords!
Good luck to all
xxxxxxxxxx0 -
mogimorgan wrote: »I was in the same situation - now I have a rented property.
What we did is that we went to the local paper and found a private landlord advertising there property for rent. Most of them will check refferences - but won't bother with a credit check as this will cost them. And if they need a tenant then most will try to get anyone they can.
If you can find the right landlord - with the right house - you will find somewere.
Any respectable estate agent will perform a credit search - unless you know someone who works as one and willing to do something on the side for you lol.
Hope this helps.
whats the difference between a credit check and a credit reference ?
I'm going to be in this position soon, I can quite comfortably pay 6 months up front, but my worry is repossesion. does anyone know if maybe i could negotiate to pay say 3 months upfront, with the other 3 going in the deposit. so if worse came to the worse I could claim my money back from that, likewise the LL would have recourse if I failed to pay the rent.0 -
We have been in the same situation as you! Infact we are moving this weekend to our 2nd property with very bad credit. May not help... but hopefully will.
The first LL does credit checks. But was willing to accept us if we could provide a Gaurantor.. so MIL agreed. Just means if you don't pay your rent your Gaurantor foots the bill.
We have same problem finding this property we are moving to. But were lucky and found a private LL advertising on Gumtree... which means no credit checks or admin fees. Just wanted wage slips, references etc etc.
Good luck!My baby boy is now 8 weeks old.
Starting college on Monday Access to HE Nursing & Midwifery0 -
Also just thought I'd mention its worth finding out if in you area they do the "rent deposit scheme" as some LL's will accept this and it means you do not have to pay your deposit.
We were lucky, our old LL left us in a house with damp and mould and did nothing. We started looking to move 2 weeks ago... and found a house within 1 week. We couldn't afford the deposit and she didnt accept the rent deposit scheme... but was nice enought to accept extra money on top of rent for the next 3 months until deposit is covered.
So there def are nice LL's out there!My baby boy is now 8 weeks old.
Starting college on Monday Access to HE Nursing & Midwifery0 -
Benefits_Blagger wrote: »whats the difference between a credit check and a credit reference ?
I'm going to be in this position soon, I can quite comfortably pay 6 months up front, but my worry is repossesion. does anyone know if maybe i could negotiate to pay say 3 months upfront, with the other 3 going in the deposit. so if worse came to the worse I could claim my money back from that, likewise the LL would have recourse if I failed to pay the rent.
Although I wouldn't recommend anyone part with 6 month's rent in advance, unless you get a BIG discount for doing so, I doubt repossession should be anything to worry about. If you have an AST, as long as you don't breach the terms of the agreement, you cannot be evicted during the term of the contract. ASTs are 6 months minimum. So the worst that can happen if the house is repossessed is that the mortgage company can give you a notice requiring possession, dated for the end of the AST or 2 month's in the future, whichever is the longer. Check that with a solicitor though, but I'd bet a tenner I'm right (and gambling is the one vice I don;t have
) 0 -
Although I wouldn't recommend anyone part with 6 month's rent in advance, unless you get a BIG discount for doing so, I doubt repossession should be anything to worry about. If you have an AST, as long as you don't breach the terms of the agreement, you cannot be evicted during the term of the contract. ASTs are 6 months minimum. So the worst that can happen if the house is repossessed is that the mortgage company can give you a notice requiring possession, dated for the end of the AST or 2 month's in the future, whichever is the longer. Check that with a solicitor though, but I'd bet a tenner I'm right (and gambling is the one vice I don;t have )
my big worry is renting off someone who is using OO mortgage instead of a BTL mortgage, from reading this board it seems like the AST is worth sweet FA if you get repossed in that scenario.0 -
Benefits_Blagger wrote: »my big worry is renting off someone who is using OO mortgage instead of a BTL mortgage, from reading this board it seems like the AST is worth sweet FA if you get repossed in that scenario.
I hadn't thought of that :O0 -
Look in the small ads rather than the letting agencies. You prob. won't have a credit check.2022 Comp total (prizes + free spins): £494.81 #20 £12 a day Jan: £382.95/£372 #57 360 1p challenge: £17.70 £10 a day Feb: £571.09/£280 March: £311.96/£3100
-
I was wrong, page 35, ground 2 of http://www.communities.gov.uk/documents/housing/pdf/138289 gives this reason why a court can grant a possession order during the fixed term of an AST or even an Assured Tenancy;
Ground 2:
The dwelling-house is subject to a mortgage granted before the beginning of the
tenancy and–
(a) the mortgagee is entitled to exercise a power of sale conferred on him by the
mortgage or by section 101 of the [1925 c. 20.] Law of Property Act 1925;
and
36
(b) the mortgagee requires possession of the dwelling-house for the purpose of
disposing of it with vacant possession in exercise of that power; and
(c) either notice was given as mentioned in Ground 1 above or the court is
satisfied that it is just and equitable to dispense with the requirement of
notice;
and for the purposes of this ground “mortgage” includes a charge and
“mortgagee” shall be construed accordingly.
So unless you can do a Land Registry search and be 100% sure that there is no mortgage, either BTL or OO, on the property, don't part with 6 months rent in advance.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.2K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards