Rent amounts

dodecanese

Hi

I went bankrupt earlier this year, and at the time my mortgage/sec loan was allowed- it's very high.

I recently filled in the EDREV questionnaire and the OR has now decided he's not happy with my mortgage after all. Im not really bothered as Im not planning on keeping the house and to be honest I agree with OR on this one, it's way too high.

How much control does the OR have over how much rent you pay? Obviously Im not going to try it on and rent anywhere hugely expensive, just an average rent. Im just a bit concerned that they try and make me rent somewhere really cheap and horrible.

dalip

From what i have read the OR knows what the average rents are for your area,so unless you decide to rent a penthouse with a roof top pool they will allow anything withinn reason. Did not realise they could change allowances at a later date,thanks for that;)

skylight

No, they won't. As long as the rent is reasonable for the area you live in and the type of property you need, then you can chose to live wherever you like. So you cannot rent a 10-bed mansion with pool at £4k pcm, if you need 2 bedrooms for about £700pcm! Its a shame though..... We could move in with you!

dodecanese

Thanks, I spoke to them a while back regarding my intentions with the house, so I think theyre possibly sensing potential fresh IPA meat.
I just had visions of the OR making me live in a leaking, rat infested bedsit, rather than the deluxe, waterside penthouse I had lined up:p

Merry_Gentry

Down South, renting a 3 bedroom place is costing over £1200 a month, which is only slightly higher than the mortgage was :eek: Prices are meant to be going down, but I think they have to be reasonable and accept that these are the prices that have to be paid...

Dorothy56

I too have been very worried about what is deemed a reasonable rent. We pay £2500 per month, but that is for 11 of us and we are in the south east - plus we have spent a fortune making it safe for our disabled children, as we sign a five year rolling lease on it.

The minimum bedrooms we could manage with is 6, and looking around I can't find anything cheaper in this area. So I'm just waiting to see when we do the deed.

shadowdragon

Dorothy56 wrote: »

I too have been very worried about what is deemed a reasonable rent. We pay £2500 per month, but that is for 11 of us and we are in the south east - plus we have spent a fortune making it safe for our disabled children, as we sign a five year rolling lease on it.

The minimum bedrooms we could manage with is 6, and looking around I can't find anything cheaper in this area. So I'm just waiting to see when we do the deed.

I dont think they can take your circumstances as average, and if they do I think you would have grounds to question any decisions to the contarary (spelling!!)