Help.... Just dont know where to turn next!!

wardy1983_2

Hello and good afternoon,

i currently own a property with a mate and have done for nearly 6 years, the house is now on the market as he wants to sell and my girlfriend is pregnant, the house will not be suitable.

i have a bad credit history a ccj and missed mortage payments - due to bad finance control and poor income at the time. there for cannot get another mortage.

me and my girlfriend need to rent somewhere (due to her being pregnant me wanting to be a good father, and us really having nowhere to go)she has a perfect credit history - but both our parents do not have the room to accomodate us, my credit history obviously is not fantastic just dont know what to do next i work full time and earn a dent enough wage now... the deposit and payments for rent will not be a problem due to the cash from the sale of the house i just need guidance...

please help
kind regards

Wardy:beer::p

poppysarah

What sort of house isn't suitable?

Sell and rent.
Save. Sort out your credit mess and learn from it.

BitterAndTwisted

Once the property is sold you will have choices:

Your girlfriend with a decent credit-history could take out a tenancy agreement in her name only.

If you apply together and your credit-history is poor a lot of landlords will demand that you pay 6 months rent in advance as well as a deposit.

Or, they could ask for a guarantor.

Depends on what your share of the house-sale might be after expenses and what it might cover.

wardy1983_2

my current house is not suitable poppysarah,

the house is on the market and looking to rent

saving and paying off debt at the mo and i have learnt from it ... hence dont know where to go next thanks

Thrugelmir

Continue to sort your finances out. Will your share of the equity in the property clear your debts? Then start saving to purchase another home a few years into the future. It will take time for your credit history to improve. So saving with a local building society, for example, may be advantgeous as they have a far more personal approach to lending.

Gwhiz

I'm more intrigued by the statement "SO-CALLED MATE". Was it he who got the gf preggers

wardy1983_2

OK then maybe just some advice on getting me and the girlfriend some accomodation really would be good - if anyone knows?? i know my past credit history sucks but its my family i need to help now thanks peepz

poppysarah

What sort of property are you after? AND why is the house unsuitable?

Is there equity in the house if you bought it 6 years ago?


You can apply for council housing but unlikely to get any.

Ask council for list of approved landlords.

wardy1983_2

poppysarah,

the house is unsuitable as i cant get another mortage due to the credit history i have and the fact that i own it with a mate that wants to sell means i have to sell it.. therefore leaving me no other option but to rent...

however i have concidered council housing but not sure how this works either its all new to me im afraid.... thanks though :T

poppysarah

OK was just checking it wasn't suitable because you want to live in something bigger

What's mortgage on it and what's value now... How much are you likely to have? Bear in mind it's a tough market at the moment.
Get some valuations and read the money saving hints for selling your house.

You can register for council and housing associations - I don't think there's any reason why not - but it's done on need and you're sort of making yourself homeless by selling and not being able to buy. You might spend some time reading your local council's policies though.

Private landlords vary from nice to downright rackmans. Don't view a rental and listen to the "promises" that repairs will be done - get stuff in writing if there are issues ... read up about deposits, inventory (I recommend taking photos when you move in and get them printed and included as part of the inventory - makes proving stains etc were already there!)

Find about how much rents go for on different streets - rightmove has a rental section.

hth

wardy1983_2

thats very helpfull thanks again making a few calls and emails now to find out some info on renting and council housing!