Not able to rent because of bad credit? Help!

Sparky0207

After coming to the conclusion that I definitely wont get another mortgage at the moment as im on maternity leave, my partner and I have decided to rent our flat out and rent a house (just had another baby and desperately need somewhere bigger).

The problem ive got is because he has a CCJ and I have a default - from 3 years ago, which is satisfied - we arent passing the credit checks that the letting agencies are putting us through.

Im at my wits end. We've looked for somewhere to rent privately but they all seem to be 1 bed flats or houses really far out of the area which are all no good.

Do we have any hope of renting? Desperately need to get out of our place and have found a tenant who is ready and waiting

Jowo_2

Are you a novice landlord or have you joined a landlords association and found out in full about your legal obligations? Are you planning to perform full screening on your prospective tenant after they have completed a tenancy application form? Bad tenants love novice landlords.Do you have permission from your lender to let your property?

Can you afford the rent on your new place and the mortgage on your old place (in case your tenant doesn't pay or you hit long void periods?

Landlords who do accept tenants with bad credit records will sometimes only do so if they can offer a guarantor or 6 months rent upfront. Can you do either?

Sparky0207

Im a fairly novice landlord but its not my property im concerned about. The tenant I have lined up has rented my mums buy to let house for the last 10 years and shes had no problems with her so im very confident she'll be ok. Also the mortgage on my house is very low so we wouldnt have trouble paying it for a couple of months should she not be able to pay for any reason.

I cant offer 6 months rent upfront but I can offer a guarantor if need be.

I spoke to one particular lettings agent this morning who said that with my credit rating (not even taking my partner's into consideration), I stand 'no hope' of finding somewhere to rent. I thought it was outrageous! Just shows how much everythings changed I guess.

ILW

Sell your existing place, you will then be able to pay a year up front. Many landlords will take that even with a bad credit record.

Svenena

If you can offer a guarantor, it shouldn't be a problem. I've used a guarantor a few times and the LAs credit checked them INSTEAD of me. They also did other checks, like with my guarantor's employer, and I had to provide a personal reference, so make sure that your guarantor is happy with this.