raising a large bond....

Insomniac666

Hi there,

sorry it's going to be a ong one....

I spoke to my landlord in November and he informed us he was thinking of selling up after our lease finishes and asked if we were interested in buying, unfortunately it's not the right time for us as we are trying to re-build our credit and finances after having house repossessed, I said it we couldn't by at this time.

I didn't relish the idea of people coming around house hunting whilst we lived there but I thought we we'll need to look for a new place soon as christmas had passed.

We were then served notice to vacate our current house by the landlord just over 2 weeks ago (just after our 6 month lease ended - even though the letting agency said LL would be looking for a long term rental) so have been hunting down new properties, the problem we have is that we need a 4 bedroom house, so rent is not cheap and houses are limited.

My first problem is - We have found a property and we need to be credit referenced, now I'm pretty worried as I have a dreadful credit history, the current agency just took work references and that was it. How detailed are these checks?

Second problem - I have also worked out that I will need to pay roughly £100 over the normal rental amount plus a possible £300 as we have 3 dogs to move into new property, now normally this wouldn't be an issue but I have some arrears i need to pay to current landlord from this month which had I intended to clear next month, but as we now have to vacate I can't see how I can raise the money for the bond etc.. until about 4 days after we have to leave.

Am I completely scuppered?

MissMotivation

So 6 months into a Tenancy you already have rent arrears and you have 3 dogs as well as other issues.

I would say that you are going to find it difficult.

Fire_Fox

Bit off topic but what do you mean notice was served just after the six month lease ended? Have you been given the correct full two months notice, coinciding with a rental period? That starts when you receive the notice not when the landlord sends it.

A proper credit check will look at the records held by Experian or Equifax, you may indeed fail if you have a dreadful credit history and have been reposessed. Arrears at your existing rental property are really not good, the new agency will probably ask for a landlord reference. Why are you in arrears?

Do you use the DFW board? Sounds like you need to get a grip on your finances, rent and council tax are priority debts you MUST pay these on time. I think you might have to set your sights lower than a four bedroom property - it sounds like you can't afford it.

Insomniac666

I changed jobs but my last payslip was reduced when they clawed back holidays... and had 4 weeks with no pay from new job, I informed LL in advance he was fine about it.

It just couldn't be timed any better.. I know th edogs don't help.. but they are family now!!

Fire_Fox

Please get some advice from CCCS or PayPlan, I notice from other threads that you have Payday loans: it all seems like a house of cards to me and I am worried for you.

N79

Insomniac666 wrote: »

(just after our 6 month lease ended - even though the letting agency said LL would be looking for a long term rental)

Don't take this the wrong way but the LL was probably looking for a long term T that pays the rent on time.

Most LL credit checks will disclose past CCJs and defaults and are a red flag to most LLs as they indicate that you have a habit of not meeting your obligations (an impression that will be reinforced by your late payment of your rent on your current property). If you can not offer a guarentor I fear you will need to focus your attentions on the lower end of the housing market where directly managing private LLs are more likely to take on the extra risk you pose.

Obviously you will need a deposit and 1 months rent in advance for any new properties.

Insomniac666

Fire_Fox wrote: »

Bit off topic but what do you mean notice was served just after the six month lease ended? Have you been given the correct full two months notice, coinciding with a rental period? That starts when you receive the notice not when the landlord sends it.

A proper credit check will look at the records held by Experian or Equifax, you may indeed fail if you have a dreadful credit history and have been reposessed. Arrears at your existing rental property are really not good, the new agency will probably ask for a landlord reference. Why are you in arrears?

Do you use the DFW board? Sounds like you need to get a grip on your finances, rent and council tax are priority debts you MUST pay these on time. I think you might have to set your sights lower than a four bedroom property - it sounds like you can't afford it.

notice was given 2 weeks ago so I have until March, to move we moved in on a 15th as that is when my wife is paid as my pay is varied i'm 4 weekly.. as we've been asked to vacate 2 days before a payday it' smade it a bit akward.

Had i not changed jobs I would have been fine..but if i'd stayed I'd be on reduced pay and hours by now so it was a no brainer.

the job I'm on now is reasonably well paid and actally secure (it's taken a while!), so a £600 rental each month is not a problem (even on my own).

We are looking at a 3 bedroom as a last option, we downsized after daughter went to Uni and we had to pay an additonal £400 a month in various bills...

we are in process of sorting out our finances so when we were told it was a long term rent we thought great, and we could have seriously sorted our payments... even more so when my new job came about.

Insomniac666

N79 wrote: »

Don't take this the wrong way but the LL was probably looking for a long term T that pays the rent on time.

Most LL credit checks will disclose past CCJs and defaults and are a red flag to most LLs as they indicate that you have a habit of not meeting your obligations (an impression that will be reinforced by your late payment of your rent on your current property). If you can not offer a guarentor I fear you will need to focus your attentions on the lower end of the housing market where directly managing private LLs are more likely to take on the extra risk you pose.

Obviously you will need a deposit and 1 months rent in advance for any new properties.

The LL mentioned the lease going before I changed jobs over Christmas, so this arrears have nothing to do with the notice.

Insomniac666

Fire_Fox wrote: »

Please get some advice from CCCS or PayPlan, I notice from other threads that you have Payday loans: it all seems like a house of cards to me and I am worried for you.

I know and this is why it hasn't come at the best of times, I've started down the route to clear these debts and it's just the notice to vacate was a shock... no mention of it when i spoke to him

I'm thinking of seeing if he can hold for one week longer or even a few days for us... though probably not... typical really, out onthe 13th and paid on the 15th!

Fire_Fox

Insomniac666 wrote: »

notice was given 2 weeks ago so I have until March, to move we moved in on a 15th as that is when my mife is paid as my pay is varied i'm 4 weekly.. as we've been asked to vacate 2 days before a payday it' smade it a bit akward.

Had i not changed jobs I would have been fine..but if i'd stayed I'd be on reduced pay and hours by now so it was a no brainer.

the job I'm on now is reasonably well paid and actally secure (it's taken a while!), so a £600 rental each month is not a problem (even on my own).

We are looking at a 3 bedroom as a last option, we downsized after daughter went to Uni and we had to pay an additonal £400 a month in various bills...

we are in process of sorting out our finances so when we were told it was a long term rent we thought great, and we could have seriously sorted our payments... even more so when my new job came about.

The whole point of rainy day savings is you are still fine even if you change jobs/ unexpected pregnancy/ car gets totalled etc. There is no excuse for arrears - even agreed ones - on your rent and this will count double against you as you have previously been repossessed. I think you might have to take any house you can get regardless of size, you have dogs, kids and a poor credit rating. You say you now have a good income so pay the rent arrears, council tax, car insurance, eat vegetarian for a month and you will be fine.

Insomniac666

Fire_Fox wrote: »

The whole point of rainy day savings is you are still fine even if you change jobs/ unexpected pregnancy/ car gets totalled etc. There is no excuse for arrears - even agreed ones - on your rent and this will count double against you as you have previously been repossessed. I think you might have to take any house you can get regardless of size, you have dogs, kids and a poor credit rating. You say you now have a good income so pay the rent arrears, council tax, car insurance, eat vegetarian for a month and you will be fine.

oh for rainy day savings!!!

One of the things I was hoping to address, is there places that can assist with bonds, then have them repaid back (loan sort of)?

ps. I'm a veggie!