What's right time to rent

Jubbly1868

This forum is so helpful, I think Im developing an addiction and have such big pile of ironing to do!!!

Here's the quandry. We declaring ourselves BR in next couple mths. Doing paperwork with CAB 9 Feb & then deciding when to actually 'do' the deed.

We are not currently paying our mgage (only missed Jan's so far) and plan to stay put and not pay it as it really is the only way to save the money for BR fees and rental deposits etc.

BR only choice (lots prof advice) and we cannot afford to stay in our house as we have neg equity; interest only mortgage and payments we cannot pay as we stupidly re-mgaged at start of year!!!

Trying to find a property to rent in NI with dogs is proving real prob. Some letting agents have been really snotty and rude and looked at me as if I have two heads.

We have one property in mind which is v.suitable for dogs, BUT it is quite expensive (still £300 less than mgage) AND is mega dated. We have negotiated landlord down by £50 mth because of this and because we will need to put new bathroom in. But he is not prepared to wait 2-3 mths (time estimated before repo order etc) for us to rent it. I've asked letting agent to see if he will accept holding fee etc....

Difficult question is: Do we go with this rental -& try and find £700 per mth rent, in case we get nothing else. Then move into it slowly (whilst still keeping our house etc, not paying mgage) & get things done OR do we gamble, take the chance and stay put for as long as we can and just risk losing this property.... I dont know how much interest there has been in it but letting agent told us landlords were hoping to sell - we get impression was parents house and kids want their money!

I know you cannot make decision for us but advice on what others would do in similar situ would be grateful.

I just have this nagging feeling that landlords 'shafting' (excuse language) us somewhat. We have another house to look at where rent is £750. It is huge in comparison, v.posh and will be far too posh for us. BUT the landlord is fine with the dogs (must be a saint) so we have to look. Their house is up for sale at the moment for £465,000, yet the one ive mentioned above is only valued at £325,000 - yet they want rent of £700. ME NO UNDERSTAND!!!

Some of you may be thinking we should be looking at much lower rent but we just cannot find the properties at lower price that allow dogs nor are suitable. We just couldnt move into a 2 bed terrace with 5 dogs as the stress etc would be too much on top of BR.

Grateful for any non-judgemental advice as on reflection, i may look like Im nit-picking. I just have no experience of renting - OH likes 1st property but doesnt see how dated it is. We would also need to remove fitted units in the 2 'tiny' bedrooms just to accommodate our stuff... Another bug-bear I have about the property!!!

I cant help it, I just feel like the landlords of first property are taking us for a ride!!!!!

Thanks and sorry to have gone on again, Lisa

wallopadonkey

we were advised by cccs to stop paying the mortgage save for rent and get moved while we were not evicted ie over time we have done this now and the house is still not gone to court yet (stopped paying 6 months ago) been in the new house nearly 2 months now
hth
dave

Jubbly1868

We were advised to either negotiate a reduction in mgage whilst trying to find rental (but company so rude and unhelpful I decided against) OR stop paying mgage whilst looking for rental.
Only had 1 v.general letter fm mgage lender already. Was advised should get 2-3mths in this house (or even more in current climate), to save mgage so dont really want to be pushed into renting this property just because the landlord says he wont wait! Albeit that it accepts dogs and is suitable in some areas. However, bathroom looks like dates from 50's!!!!

Merry_Gentry

If your head is telling you there's something wrong, trust yourself. Remember, it can take up to a year to arrange for your house to repossessed, and although it can cause problems trying to rent whilst BR it is not impossible. Have a look at the other house, keep your options open, and don't let anyone push you into a move that's not right.

wallopadonkey

quite right merry well said

LOUISE22_2

Also, it sounds a bit iffy that they want to sell. What if you just get settled and 6 mnths down the line, after you have paid money to get bathroom etc done, they dont renew the contract cause they get a cash buyer etc. Then you will be heartbroken.. I would check out the private tenancys because they are always more laid back about animals and also they dont do credit checks. Good luck with your decisions though x

Jubbly1868

LOUISE22 wrote: »

Also, it sounds a bit iffy that they want to sell. What if you just get settled and 6 mnths down the line, after you have paid money to get bathroom etc done, they dont renew the contract cause they get a cash buyer etc. Then you will be heartbroken.. I would check out the private tenancys because they are always more laid back about animals and also they dont do credit checks. Good luck with your decisions though x

Thanks all,

Silly question but how do you go about finding private rentals? We are english and certain areas we wouldnt move into over here but thought private rentals were more difficult legally etc....