selling renting help don't no what to do

blue_mum

Hi I thought we had sorted out all our financial problems by deciding to sell our property then renting out a property, and then we would be able to pay our Iva of in full and have a good deposit and a few months rent in advance, that was until today I called a few rental companies to ask how we went about looking for properties and the procedures they took, I was completley honest up front told them of the iva and how it will be paid off and the amount of money that would be avalible up front, (I must point out we also have never missed a mortgage payment) only to find out we would not pass there credit check as te iva would have to be settled before we rent. I have no idea how to get around this as we have to sell first to get the money but can not move any where as the money would not be free in time to rent. I have no idea what to do , a quick back ground as to why we are in this situation is that my husband was made redundant before christmas and we want to make sure we give the creditors back more money than would be given if we were made banckrupt and loose the house anyway.

I'm so confused now no idea where to rent a suitable property, we have 4 kids t put a roof over does anyone know what we should do or someone put us in the right direction to get the right advice.

Thanks Blue

rosysparkle

Offer to pay 6 months rent up front, or find someone who is prepared to act as guarantor, or try to find a private landlord who won't do the same sort of credit checks as an agent.

blue_mum

rosysparkle wrote:

Offer to pay 6 months rent up front, or find someone who is prepared to act as guarantor, or try to find a private landlord who won't do the same sort of credit checks as an agent.

HI thankyou for replying , I did say to the agents we would have 6 months up front but they said this would not count, and the only guarantor we have would be my mother in law but she does not work so not much luck. I would go down the private landlord route but the only private ones around here seem to be flats and 2 bed properties. Do all agencies act like this or did I ust manage to pick th 4 out of several that do ?

rosysparkle

All agencies do credit checks, but not all will turn you down if you offer to pay 6 months up front. You could try a smaller agency rather than a 'high street' one.

I work for an agency so I'm not the best person to advise on finding a private landlord, but someone else may have ideas of where to find a property more suited to your needs.

I know this sounds like a silly idea and probably not practical with four children (I have four myself, so I do understand!), but could you put your stuff into storage and move in with friends or family for a couple of weeks after the sale, and get your IVA settled, and then apply for rental properties?

clutton_2

if you came to me, i might offer you a house if i saw mortgage payment bank statements for the last couple of years, and if you brought as much info as possible to show me that you were honest, above-board, and up front and that you had work references and personal references. I might also want a larger deposit than usual.

some councils keep lists of landlords who are able to help in different circumstances.

blue_mum

thank you for the replys, i will try the council again today, I spoke to them last week and they were really helpful with what benifits to claim and the lady left me her number to call if I needed any more help, so hopefully she might know of landloards who may rent in this situation, thank you again. Blue