Renting In Bankruptcy.... Part Deux

Worcsman

So I am testament to the fact that it is possible to get a rented house from a lettings agency, even the big ones.
How to do it? Not easy is the simple truth. I've been discharged for 6 months. During that time Ive been saving every penny, I had no IPA so ended up after finding a job, with a lot of disposable income, having no debt to service and a generous family member that helped with the rest. It went like this..

• Found a place we liked
• Told the lettings !!!!! we were BR
• Innitially they were frosty
• Then they cooled a bit and said if we paid the whole tenancy up front plus deposit, they would process our application
• Looked at the place, liked it and said we wanted it.. Waited!!!
• Paid the admin fee for the useless credit check
• Got a call today, my references from current LL and work/bank were good and we're in.

We move in end of May :j

So for those that are in the right position .... You can rent whilst BR. Money talks!!! The bank reference BTW.. I spoke with the manager at the bank first hand, didnt owe them a thing during my BR and had been a customer for 20 years without ever being OD, he said he would have no problem giving a bankers reference, the bank was RBS. I still dont know what a bankers reference really is but the bank guy said it's just to say our account was in order and we dont owe them gazillions. I'm not even sure that the lettings !!!!! got a reference from the bank.

Thanks all

Worcsman.

Ineedaname

That's brilliant news for your Worcsman, well done for persisting with the letting agents.

Who's invited to the housewarming then?

out_of_cash

what exactly is a bankers reference?

Worcsman

out_of_cash wrote: »

what exactly is a bankers reference?

Thats what I said

Worcsman

Ineedaname wrote: »

That's brilliant news for your Worcsman, well done for persisting with the letting agents.

Who's invited to the housewarming then?

Cheers! Never been big on house warmings in my own place, I'll be happy to go round yours and throw red wine all over the furniture though

WLITC

Worcsman wrote: »

Then they cooled a bit and said if we paid the whole tenancy up front plus deposit, they would process our application

Worcsman, how many months in advance did you have to pay? and what is the length of your tenancy agreement?

I'm hoping to do the same as you in the summer, I was hoping that 3 months rent in advance might be enough, but if its more like 6 then I'll need to save for longer. I pass a letting agent on my way home every day and I'm tempted each time to pop in and ask them about renting in my situation.

Worcsman

welshladinthecity wrote: »

Worcsman, how many months in advance did you have to pay? and what is the length of your tenancy agreement?

I'm hoping to do the same as you in the summer, I was hoping that 3 months rent in advance might be enough, but if its more like 6 then I'll need to save for longer. I pass a letting agent on my way home every day and I'm tempted each time to pop in and ask them about renting in my situation.

it was 6 months, they said that the credit check was still required but the results were voided so long as the other references worked out OK. The key bit was that I paid the whole agreement in advance plus deposit, they didnt mention paying less and I didnt ask, they just asked for it all. We need to get of here out so we agreed. The bonus is after our savings are emptied, we have no rent to pay for 6 months. The downside is the landlord will get all the rent in one go, it wont be held in a rent deposit scheme so the risk is all mine. The house is on his farm though so if he messes me about I dont have too far to go to find him.

WLITC

So have you paid 6 months upfront and will pay nothing further until the 7th month when you'll start paying monthly as normal?

Worcsman

welshladinthecity wrote: »

So have you paid 6 months upfront and will pay nothing further until the 7th month when you'll start paying monthly as normal?

Exactly what will happen.

Ineedaname

You throw red wine on my sofa and I'll set the ankle biter on you! Well behaved visitors are always welcome though.

Surely your landlord is still bound by the rent deposit rules though? So that's one month deposit and 6 months up front I would have expected the agent to ask for. Otherwise, if you move out at the end of the 6 months and have trashed the place, how does the landlord recover the costs of repair from you if not from the deposit?

Worcsman

Ineedaname wrote: »

You throw red wine on my sofa and I'll set the ankle biter on you! Well behaved visitors are always welcome though.

Surely your landlord is still bound by the rent deposit rules though? So that's one month deposit and 6 months up front I would have expected the agent to ask for. Otherwise, if you move out at the end of the 6 months and have trashed the place, how does the landlord recover the costs of repair from you if not from the deposit?

No the LL just gets the 6 months rent, the deposit is paid into the deposit scheme as normal.