Need some advice re renting

inmypocketnottheirs

Why not move in to your fiances property and use the money you pay to rent towards his outgoings? If you are both in such a negative financial position, it could be hard to get back on the property ladder when the market improves in your area.

princessamy86

Good idea inmypocket!!

moneysaver12

princessamy86 wrote: »

Asking your dad or mil to be a guarantor is asking them to take financial responsibility, even if you don't plan on missing payments you never know what might happen.

I see what you mean.

moneysaver12

princessamy86 wrote: »

Oops, sorry just re read your last post: if your fiance has never missed a mortgage payment then why is he on the brink of repossession?

He tried to sell his house, but found out that because he has a securred loan on it he can't sell it, so is in the situation of having a house in another town to where i live, a house that needs 4k worth of repairs for two celings, one is in the kitchen and the rain has leaked through the roof and he can't afford to pay back the monthly payments that the loan company want which is securred on his house.

moneysaver12

inmypocketnottheirs wrote: »

Why not move in to your fiances property and use the money you pay to rent towards his outgoings? If you are both in such a negative financial position, it could be hard to get back on the property ladder when the market improves in your area.

We have looked at this, problems are it is in another town and i don't drive. It needs 4k worth of repairs and we don't have the money, one of it is for the kitchen celing which needs repairing as rain has leaked through and he can't afford the monthly repayments that the loan company want each month which is securred on the house.

Jowo_2

Most landlords will run a mile when presented with a poor credit rating as obviously this flags up a risky tenant who is much more likely to get into rent arrears.

The few that won't will either insist on a guarantor, who will be credit checked themselves and the preference is for property owning guarantors.

They may insist on a higher deposit. Some will insist on payment for the full 6 months rent in advance. Some will not consider a tenant with a ccj lock stock and barrel.

Have a look at the Shelter website for their advice about all the support schemes that are available for houseowners who are struggling with repayment and repossession. There are schemes available where councils/Housing Associations will purchase the property and make the owner a social housing tenant with a secure tenancy.

moneysaver12

Jowo wrote: »

Most landlords will run a mile when presented with a poor credit rating as obviously this flags up a risky tenant who is much more likely to get into rent arrears.

The few that won't will either insist on a guarantor, who will be credit checked themselves and the preference is for property owning guarantors.

They may insist on a higher deposit. Some will insist on payment for the full 6 months rent in advance. Some will not consider a tenant with a ccj lock stock and barrel.

Have a look at the Shelter website for their advice about all the support schemes that are available for houseowners who are struggling with repayment and repossession. There are schemes available where councils/Housing Associations will purchase the property and make the owner a social housing tenant with a secure tenancy.

Hi thankyou for your help, i will get my partner to look in to this.

moneysaver12

Just had a look at the shelter website and it says you need to have equity, because of the securred loan on the house, my fiance house is in negative equity.

moneysaver12

bump..............

mlz1413

£4000 for 2 ceilings sounds like an huge sum, has he had 3 quotes for the work?

As you don't drive and the house is in another town can you commute, bus/bike/taxi/lift share?

Do you want to drive would your saved rent allow you to take lessons and buy a cheap car / would this be viable?

If you can move in with him then would your monthly contribution stop the loan company repossing him?

If moving in with him is not possible I would work out a plan of how long living with you it will take to sort out his debts and then decide if you can cope that long.

Trying to rent a bigger place together is not tackling the source of your problem which is his debts. Although I agree with princessamy that as you are currently with the rental agency its worth having a chat with them , but try not to spend out large sums to be told no.