Help me please...

HueyBuey

Hi, new to this site and hoping for advice. Am currently in payment plan agreements on my credit cards - total debt £40k - my husband lost his job and has started his own business but earnings have decreased by £600 pm. We have sold house to use equity to clear debts and are now in the process of renting a house but not sure whether our credit search will prevent us from renting. No arrears on mortgage or secured loan and no ccj's - problems started from 1st Jan - had been living on cards and using one to pay off another until reached a point where all were up to the limit & could not afford to pay. Total monthly take home £2764 between us. Can anyone advise on whether we are likely to be accepted for renting & do letting agents accept guarantors such as parents if necessary ?
Thanks

THE_LONE_RANGER_4

not sure depends if they do a credit checks i dont think thats poular in the uk at the moment i dont know what part of the country you live in ,i live in shropshire the paper has loads of houses in for rent every night by private landlords ,i would go for those instead of an estate agents, as if your living in city etc i suppose agents are the main route to be honest alian to me if you have the same oportunity as me id go down that road

HueyBuey

The agency requires an admin fee for what they say are credit checks - no private lettings unfortunately, not that I'm aware of anyway - live in Northampton..

crawley_girl

Perhaps those 'credit checks' are the references and the admin costs involved (always inflated and totally unreflective of the true costs!). I doubt very much that they will run a credit check. Remember - they won't be able to access any information about you unless you have signed to give your permission...

Good luck, hope it all works out

HueyBuey

Thanks for that, hadn't thought about them having to gain our permission..although the equity wont make us completely debt free it will make the situation better than now. Am so glad I joined this site !

ash032

I have rented for several years through agents and they usually do do credit searches. I know this because something came up against my wife so I had to take the house in my name only. You agree to the credit check as part of filling in their forms.
Hopefully this helps ash....