Renting a flat, what chance have I got with poor credit rating?

sadken

Ok folks here's the deal, sad as it may sound.
I am 37 years old, lived with Mam and Dad for all but 6 months of my life and now want to move out.
I have had the same job for 5 years and 2 months and take home between £1250 and £1365 every month.
I have had a new bank account for 7 months of which I have not been overdrawn once (impossible as it is a Nationwide basic account, wages paid straight in.)
The problem I think I am going to have is if I decide to rent from an estate agent and they perform credit checks.
My credit record is nothing short of appalling and I am about to start an IVA to get myself on the 'straight and narrow' after running from my debts for too long.
I will be able to provide the following when going to rent:-
6 months payslips
letter from my boss confirming my employment
personal reference from a social worker
one month's rent and deposit and estate agents admin fee up front.
Do any of you good people on here think I am still going to run into trouble?
(PS, live in Swansea if relevant)

thanks in advance.

Mike.

BobProperty

Various thoughts come to mind:
Rent privately off someone who won't do the credit check.
Don't worry about the credit check, as a landlord I wouldn't like the look of the credit check but it would only put you one behind someone in long term employment without the adverse credit history. I've seen tenants with a lot worse employment record than yours.
Check that the letting agent / landlord isn't using or applying for the insurance policy that covers the landlord against loss of rent. There is or was such a policy but you had to pass a credit check with flying colours for the tenancy to be covered by the policy. It would be a waste of your money if this was the case, as, no doubt, they will charge you for it.

Finally, why are you moving out of your parents place when you are trying to get straight? Go and ask the Debt Free Wannabes because I think they will tell you it's not a good idea, you'd do better staying put and getting yourself straight financially first, then looking at your options for where you want to live.

real1314

...if your mum and dad own their home, you could always see if they would be guarantors for your rent. most landlords would consider this, but it's best to be upfront about what's gone on in the past. also, would your employer consider paying straight from wages (not sure how this could be arranged) which may swing things your way.
then again as the previous poster has said, why move out when you'e trying to sort out finances? £75 a week rent + elec, gas, water, council tax, food must be more than you're paying now?

sadken

real1314 wrote:

...if your mum and dad own their home, you could always see if they would be guarantors for your rent. most landlords would consider this, but it's best to be upfront about what's gone on in the past. also, would your employer consider paying straight from wages (not sure how this could be arranged) which may swing things your way.
then again as the previous poster has said, why move out when you'e trying to sort out finances? £75 a week rent + elec, gas, water, council tax, food must be more than you're paying now?

Need my independence and even after sorting the IVA, rent , bills etc I will be left with between £4 and £500.
I havebeen working hard all year to get myself together and pay off 'personal debts' and be in a position to move out and now is the time.
Also, if I move out, I will need to pay £250 a month to the IVA on debts of £20k over 5 years.
If I stay with Mam and Dad, I can't declare most of the things I can when not living with family and the monthly IVA payment would go up to £442 (unaffordable).

sadken

real1314 wrote:

...if your mum and dad own their home, you could always see if they would be guarantors for your rent. most landlords would consider this, but it's best to be upfront about what's gone on in the past. also, would your employer consider paying straight from wages (not sure how this could be arranged) which may swing things your way.
then again as the previous poster has said, why move out when you'e trying to sort out finances? £75 a week rent + elec, gas, water, council tax, food must be more than you're paying now?

They rent their home still although both retired.
My Dad was a bus driver for 30yrs and Mam worked in a caff, they could never afford their own place.

clutton_2

I look for honesty in my prospective tenants, and i charge a minimum credit check fee, but i suggest that they might want to tell me in advance if i might find something untoward in a credit check, and mostly honest folks do tell me. i will always phone their current landlord and employer (i occassionally go to visit employers/landlords) to check out their references.

""Aside from that they can hold all night orgies for all I care"" -

unfortunately, landlords are responsible in law for their tenants behaviour. I recently had a letter from the local council enclosing copies of complaint letters about one of my tenants and her visiting friends, and the council were asking me what i proposed to do about it. i have addressed the matter, and the nuisance has now stopped, but, if i had not dealt with it, i could have been successfully prosecuted in court. How fair is That on landlords ?????

Re OP - i would be absolutely upfront with the prospective landlord - arrive with your guarantor, months rent and bond in hand and be honest.

good luck