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Rent Deposit
t1nt1n
Posts: 5 Forumite
Hi All,
New hear to sorry if this is the wrong place etc.
Our predicament is that My partner works in Place A, We live and I work in Place B.
My job is now moving to place A (I asked for a transfer a while back) to try and cut down the cost of petrol for my partner (She is spending £50 a week easy on petrol) We have been looking at rented houses. (We current rent at £600PCM) this isn't a problem we can afford this (Just) and this is the going rate for our area, and is one of the lowest rents.
We have been looking at rents in Place A. These are alot lower and would help our fiances ALOT.
We did have an emergency fund for a deposit if needed but this got wiped out as my partner is pregnant and it hasn't been easy (She has had to take quite a bit of unpaid leave) to keep her ill-ness at bay.
We did look into the Rent Deposit scheme run by councils (in essence a sho tterm loan) but this has been stopped due to cost cutting.
All Im asking is how can I come up with a deposit (around £800) to bridge the gap before we get our current deposit back?
And before any one asks I have gone begging to the bank of Mum and Dad but they cannot help. Im stumped and thecost of petrol is going to be to much to keep with the rent as well.
New hear to sorry if this is the wrong place etc.
Our predicament is that My partner works in Place A, We live and I work in Place B.
My job is now moving to place A (I asked for a transfer a while back) to try and cut down the cost of petrol for my partner (She is spending £50 a week easy on petrol) We have been looking at rented houses. (We current rent at £600PCM) this isn't a problem we can afford this (Just) and this is the going rate for our area, and is one of the lowest rents.
We have been looking at rents in Place A. These are alot lower and would help our fiances ALOT.
We did have an emergency fund for a deposit if needed but this got wiped out as my partner is pregnant and it hasn't been easy (She has had to take quite a bit of unpaid leave) to keep her ill-ness at bay.
We did look into the Rent Deposit scheme run by councils (in essence a sho tterm loan) but this has been stopped due to cost cutting.
All Im asking is how can I come up with a deposit (around £800) to bridge the gap before we get our current deposit back?
And before any one asks I have gone begging to the bank of Mum and Dad but they cannot help. Im stumped and thecost of petrol is going to be to much to keep with the rent as well.
0
Comments
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You need to negotiate an overdraft at the bank or a short-term loan facility with them.0
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We have tryied this. My Credit is to be honest crap. A lender wouldnt touch me. Im not to sure about the OH. The only thign she has got is a HP on a car.. Could she do it herself or would have to be joint?0
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An advance from your employer?0
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If your OH's bank would agree to an overdraft facility or a loan then she should take it out. Once she goes on mat. leave I presume you would be able to make contributions from your wages to cover the payments if necessary?0
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any chance of a credit card ??0
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Not getting another credit card. (Bad Credit History) Was given a lot of credit at 18 and now I’m regretting it! I should be able to pick up the payments But we just need it for about a week, after we move out and they inspect the house and release our deposit. OH is speaking to her bank about arranging a "Bridging Loan" I know this is for mortgage payments but they seemed to think it might be the best pay.
I did look in to a scheme by the local council called "Rent Deposit" But due to cuts they have stopped this. This was basically a service that we need! They would pay the Deposit and current LL would pay the funds back to them. Shame.0 -
Please, do not imagine for one moment that you'll get the full deposit back on your current rental in a week! Your OH should not negotiate the repayment based on that time-schedule. Much better to borrow it and repay it over a couple of months.0
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And don't necessarily assume that your LL will give you all the deposit back either ...0
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