Paying 6 months rent in advance - what happens after that?

Doucam

Nervous, thanks so much for that, that is what I thought happened, so essentially if, a kind person was to let us have the 6 months, we can pay them our normal monthly rent for 6 months and get them paid back, and then revert back to paying the landlord as normal?

It does seem a shame that once you are BR you are deemed to be a bad tenant as well though

Nervous, what about if you could get a guarantor? would you still have to have the 6 months rent up front?

Sorry for all the questions!! Thanks!

shazbo

Hi doucam, we have just done exactly what you are talking about.

My parents lent us the 6 months rent (we were told if they were to go guarantor they would have to prove they earnt or had access to £28,000!!!) so i rang the OR and they are in agreement with us paying the rent to my parents at the same rate as we would have done to the LL, we have not had to find a private LL we went to a letting agents, all the credit checks were bypassed with the 6 months payment.


We dont pay rent to them until the 6 months are done although they have expressed that they would then like us to do the same again at that time but we will cross that bridge when we come to it

The OR had some conditions that you should be aware of: None of the money loaned to you should be given to you, it would need to be paid directly to the agents or the LL, the person loaning you the money would need to write to the OR explaining that they are fully aware of your BR situation (your not allowed to borrow over £500 without them being aware you are BR, this letter proves it) and you would not be able to repay more than the rent until your discharged.

My parents loaned us all the money needed, the 6 months rent, the deposit and fees etc, we are paying the rent back monthly and the deposit from the last place was paid directly to them by the previous agents but the rest will need to wait until later in the year.

You would need either a guarantor or the 6 months upfront, not both

I hope it goes well for you, we also left somewhere very small and very damp, good luck x:)

Doucam

Thanks Shazbo, well the person we are thinking of is very solvent indeed so would probably fit the criteria of guarantor, if not then they are well aware of our BR, they were a creditor unfortunately but are fine about it and keep asking if there is anything they can do!!

I am wondering if we are better off waiting until discharge to do all this to be honest, just to make it easier, hopefully the summer will be nice and we can get the house dried out, and then we can do it with less hassle. I am fed up with all the paperwork and answering to someone else all the time!!

jellygirl_2

welshladinthecity wrote: »

If I'm reading the question right and your on about renting and having to pay 6 months up front because you are BR, then I would imagine the 6 months would work more as a deposit and you would continue to pay rent each month from the start. Then if you decide to leave, I guess (depending on the terms) you'd either not pay rent for the last 6 months, or you get the 6 months deposit back when you leave. In terms of a guarantor, again it would depend on individual agents/landlords, but it would seem logical that if you had a guarantor, then there would be a need for a 6 months deposit as they have a guarantor should you not be able to pay.

No, the rent in advance is for the upcoming months, so if someone pays 6 months rent up front, that is their rent for the next 6 months, so if someone lends them the money for this, they would be able to pay them back on a monthly basis, as if they were paying rent. The agent would also probably ask for a deposit, usually a month's rent - I know this because this is what I had to do after going br last year and moving into rented (I actually gave 3 months up front which I had to borrow and started actually paying rent on the 4 month into the tenancy).

I have since agreed another 6 months lease with the agent, whereby I jst carried on paying rent monthly.

Hope this helps.

shazbo

I know exactly what you mean about answering to someone else doucam but believe me if you have someone willing to help go for it!

the process for us was done in a month and now we live somewhere lovely, big enough for us all and no damp in sight and it couldnt have been easier, just make sure you have all the info prior to talking to the OR, tell them what you are planning and so long as the rent is manageable within your budget im sure it will be fine

we had a bit extra available all of a sudden (were paying for the the car then werent) and i was told i could add it to my shopping but i said i would rather live somewhere else and eat less and they understood!

The request to live somewhere damp free is not unreasonable and if they give you any grief (which im sure they wont) send them some photos

when we rang up we didnt even speak to our usual OR but someone else who had to go and get permission and rang us back to say ok, so its not even as though its the one guy doing us a favour if you see what i mean

Doucam

Thanks again Shazbo, I will see what happens, as I say it isn't definate in any way, but I think dh is hoping that a few hints will help!!

We already have photos of how bad it is which I sent to the council when I sent my housing list forms in, so that is fine!

We would probably end up paying around £50 - £60 monthly more,but that's not a great deal really, and would get us out of a teeny tiny 2 bed damp bungalow into a 3 bed house. Not a huge house, but a reasonable size, where we could have a dining table instead of eating off our laps, not have to fight the damp all the time, it would make such a difference to our quality of life!

thanks again everyone. Much appreciated!

Angiepange

Wishing you the best of luck with it all Doucam.

I hope you find somewhere nice.

Angie x

GettingHopeful

Just querying whether the situation changes once discharged, or is there still the need for the 6 months up front or guarantor? I've only just started to try and get my credit reports cleaned up post br.

diddly74

Doucam wrote: »

not have to fight the damp all the time, it would make such a difference to our quality of life!

thanks again everyone. Much appreciated!

Will make a difference to the quality of your health too! Damp can cause a lot of health problems. You don't say if you have children, but wanting a 3 bed house makes me think so, if you don't do it for you - do it for your kids if you can - you have the caretaker of their health too!

We will lose our house sometime this year and I shall be very careful about where we move to because my eldest daughter has asthma - I think she deserves to live in a healthy enviroment - its not her fault all this crap has happened.

Good Luck

D