Is our letting agent telling us the truth ?

richfros

My partner and I have looked at a house we would really like to rent. I collected the forms from the office the next day and told the agents (Belvoir Lettings) that my partner had gone into bankruptcy earlier this year. We were told that it shouldn't be a problem as long as we could provide a guarantor.

The next day I sent the agency an email asking if we paid 6 months rent upfront, then monthly after this, would this be a suitable alternative to a guarantor, but we could still get a guarantor if not.

After 3 days, I had no reply from the agency, so I telephoned only to get the excuse that they didn't get the email. I explained the contents and resent it. The agent said that they would get in touch with the owner and let me know.

Another 3 days and still nothing, so I telephoned today. They then said they tried to contact me and sent me a reply by email, which I did not receive.

However, the agency have said that due to conditions of the owners mortgage, the owner cannot let the property to people who have gone bankrupt or students (of which I am a mature student).

Does this seem correct, would a mortgage company make these conditions, or are we just getting treated as undesirables by the agency?

startingtosave

Hi Richfros,

I've got consent to let from my mortgage provider and the conditions included no letting to students or those on housing benefits.

clutton_2

it is very difficult to find accommodation if you are a bankrupt... try to look at it from the LLs point of view... you have been in serious trouble with money ... and you are a complete stranger to him... and you dont have a family member who can act as guarantor for you .... he may well be suspicious of you, and feel that you are a risky tenant....

having said all that my last tenant was a bankrupt... his new employer acted as a guarantor and i gave him a property for him and his family and he is a fabulous tenant

good luck

G_M

Different mortgage lenders attach different conditions.

There are also some landlord insurance policies that impose restrictions.

Finally there are landlords themselves who have their own criteria.

All you can do is be upfront (as you have been) when enquiring and hope you come across a property where you meet the criteria. Trying to hide your background will only work with agents/landlords who are very amateurish as most professional ones will run credit searches - which will be a waste of your money unless, again, you've been upfront and been told the bankruptcy will not bar you from renting.

robpw2

clutton wrote: »

it is very difficult to find accommodation if you are a bankrupt... try to look at it from the LLs point of view... you have been in serious trouble with money ... and you are a complete stranger to him... and you dont have a family member who can act as guarantor for you .... he may well be suspicious of you, and feel that you are a risky tenant....

??
so where would you reccomend they live
cardboard box?

clutton_2

""having said all that my last tenant was a bankrupt... his new employer acted as a guarantor and i gave him a property for him and his family and he is a fabulous tenant""

martindow

robpw2 wrote: »

??
so where would you reccomend they live
cardboard box?

Becoming bankrupt is not to be taken lightly as rightly there are repercussions. Getting a guarantor or offering to pay several months rent in advance is a better bet than a cardboard box. Then continuing to rebuild a financial reputation.

G_M

robpw2 wrote: »

??
so where would you reccomend they live
cardboard box?

I think clutton was just explaining why some LLs act the way they do. He was at the same time sympathetic but factual/realistic.

Expecting him to solve the OPs housing problem is a bit much!

richfros

We were upfront with telling the agents about the bankruptcy, I told them when we picked up the forms. We are able to provide a guarantor and neither of us is on benefits. Money is not the problem as my partner is in full time employment and I have savings. The agency seems to have treated us as undesirable without yet asking for any figures/references or anything else.

clutton_2

unfortunately you are paying some of the price for choosing bankruptcy

It is not the upfront money that is the problem... its the perceived risk that you dont know how to handle and account for money over a sustained period that is the problem.... and until you get a new landlord willing to offer you a tenancy you will experience this caution in many landlords and agents..

there is a shortage of rental property in the country at present - so you are at a disadvantage....