renting with an IVA

beaumontpink

Hi there I was hoping that someone could advise me.

I have recently split with my partner and as a consequence need to move out from the property (he owns it) within the next couple of weeks. Due to my financial irresponsibility I got myself into a financial pickle and went on to an IVA 2.5 years ago.

Due to my financial experiences and the stress I initially went through I am a lot more financially astute now and have regularly made the necessary payments to the IVA.

As I need to move soon or become homeless (which I think maybe a possibility as my ex partner wants to move his new girlfriend in asap) Will I be unable to apply for flat rentals through a letting agency as I am now deemed a high credit risk? I have stable employment and am currently training for a promotion. My salary is also good.

missile

It will be difficult to find a LL who will accept you. Can you offer a substantial deposit and or guarantor?

You might want to consider lodging or share with a colleague from work.

beaumontpink

No I dont have any family to act as a guarantor or a massive deposit. I am able to pay the usual deposit and first months rent but thats as far as I could manage.

BitterAndTwisted

Your financial history is going to be a severe handicap. What about a share or becoming someone's lodger for a bit?

beaumontpink

I thought initially about sharing but I think I have too much stuff and I would prefer my own space. From what your saying it sounds like I dont have any other choice but its not what I want to do. Is there no other option? I checked my credit report I could not see my IVA on there just a poor credit rating but I could be mistaken. It feels like I am always going to have to pay for getting myself in a pickle.

BitterAndTwisted

Not always but probably for the next three and a half years. I agree, sharing is not ideal and not what any of us would want to do in a perfect world but need must. Is there any way that you could put some of your stuff into storage? I've heard that it can be quite inexpensive if you don't have the contents of a whole house to store

beaumontpink

I guess so but I also have a cat and my ex partner wont look after her. I guess future looks bleak for me. Thanks for advice

BitterAndTwisted

No, it's not bleak at all you just have special requirements. There is someone out there looking to share with exactly someone like you.

Put a listing up on flat-share sites and your local paper plus canvassing every single one of your work-colleagues and friends. Your colleagues might not be looking for someone but one of their pals might. Lots of people are thinking about sharing or getting lodgers now that budgets are tightening. You''ll see.

missile

beaumontpink wrote: »

I guess so but I also have a cat and my ex partner wont look after her. I guess future looks bleak for me. Thanks for advice

and even bleaker for the cat

beaumontpink

missile wrote: »

and even bleaker for the cat

Thanks for that. I think I would rather give up as I have lost nearly everything anyway.

notmyrealusername

It might be worth looking at privately rented properties, where the landlord doesn't go through an agency and therfore perform credit checks. You could offer bank statements and an employer reference ie you have worked there for X years and are on X salary.

I was in an IVA and rented (with a cat) with no problems, there was no credit check done but I did have to provide bank statements. Good luck with it all.

Edit: Did you pay rent to your ex? If so could you ask him for a rent reference? Combined with bank statements and an employer reference that will give you a fighting chance.