Renting with an IVA

timberflake

Can anyone advise how much more difficult it is to get approved for renting a place when your in an IVA??

I moved out of home about 2 1/2 years ago with my girlgriend at the time and was about a year into my IVA. My mum stood as guarantor and it went through fine.

Now me and my new gf are looking to get a place and I'm just worried that we'll find a place and not get it cuz of my IVA - does it really make that much of a difference? Presumably, as long as I'm honest and can provide a guarantor/references all should be ok? My gf has no debt at all and our joint income is around £35,000.

housebug

I think that would depend if your looking to rent privately or through an agent. Agents do credit checks so the IVA may go against you. But you could explain your circumstances and see what happens.

Is it possible to find a private rental? Normally proof of income and a reference from your previous landlord (if you or your gf have one) should be sufficient for a private landlord.

Good luck!

timberflake

As I said, I rented through an agent when I first moved out and had the IVA, they suggested my mum stand as guarantor and it went through fine. I'm just wondering if there is any reason I wouldn't get approved now. Guess what Im saying is, if you get approved once will you always get approved or does it vary from agency to agency?

housebug

I'm sorry. For some reason I didn't read that right. If you've had no problems with your previous tenancy ie: no late rental payments etc... I can't see why you should be refused. I suppose you might be aske to provide a guarantor again.

Best thing to do is to just go ahead and ask the agent you looking to right through.

stick2000

Housebug - I would have to disagree with your comment re: private landlord requirements. The majority of private landlords (myself included) also carry out credit checks on tenants. I would never accept a tenant with just proof of income/reference.

Timberflake - Even if you have a good income now, an IVA on your record still highlights a risk to an agent/private landlord. I should imagine that so long as you can provide a guarantor you should be ok. Plus, the fact that you have good rental history will also provide some reassurance.

timberflake

Thanks for that,for the last two years iv rented through both an agency and private landlord and have never missed or paid my rent late.

worried_jim

If you are using an agent point out that you have an iva so they are in the picture- I wouldn't worry too much as long as you have a proven track record paying rent previously. good luck !

lbell_3

My partner has an iva and we've had to put down a bigger deposit for the flat we want to rent. An iva will definitely count against you whether you've had a great track record or not but the agency should be able to advise you of the best way forward. They are also likely to talk to the landlord to see what else s/he wants. In our case we're putting down a 3 month deposit, and seeing as we're paying the first month's rent in advance then the landlord is essentially having 4 months of the 6 months rent already paid. It also helps that I currently rent through the same agency.

They may also allow you to use a guarantor as you have done previously. Or if your girlfriend earns enough to cover the rent on her own (in a sense that she earns the 'desired' amount for a property at the rental level you're going for without taking your earnings into account) then it may not matter, or you can just have her name on the agreement.

So basically you have options, and each agency/landlord varies in their approach (eg the agency I am with don't use guarantors so that wasn't even an option). Be upfront about it when you're looking and at least then you'll know whether it's feasible before you pay any upfront credit checking fees etc.