Renting after IVA

liverpool200

Hi All, my final payment of £491 is due on 1st April and thank god its all over !!
My house is up for sale and getting divorced due to all the financial pressure, although i may be left with a small amount i know i will not get another mortgage, sometimes wonder at 50 if i ever want another, but im looking round at rented properties and noticed some do a credit check.
Im now worried that i will not be able to rent either !! Anyone been in my situation or shed any light ?
Thanks.

david_m4

Congratulations on getting thru it all :-))

I don't know if this helps, but every rental agency I've used will accept a guarantee from a family member or friend instead of a credit check. Sometimes instead of a deposit too. It often seemed to be their preferred option, I think because of the 2007 rules on protecting deposits which stopped agencies earning interest on them.

Personally I would never want to get my finances mixed up with anyone else, and I always persuaded the agencies I used to rent to me without a guarantor. I walked away from some nice flats cause those agencies tried to insist. But if you have someone who trusts you that much, it might help.

liverpool200 wrote: »

Im now worried that i will not be able to rent either !!

liverpool200

Thanks David, i do have a family member who would vouch for me but i would only ask as a last resort, again like most of us my family know nothing of what ive been through and i would like it to remain that way, i suppose if the house sells i will have to start the search early.
Many thanks.

david_m4

Yeah, same here. I think quite often if you ask nicely, explain where you're coming from, but make it clear them saying no is a deal breaker, agencies will decide to be flexible. I've given references from previous landlords and agencies, and I've shown some recent payslips. Or you can offer them a bigger deposit if you've got the cash.

liverpool200 wrote: »

Thanks David, i do have a family member who would vouch for me but i would only ask as a last resort

angel_rainbow

Hi! We sadly lost our home before we entered into the IVA and had no option but to rent and we have been fine as we have parents who act as our guarantor. This or 6 months rent upfront is pretty standard for those renting with adverse credit.

rega

Hi, I was in a similar position, IVA completed Dec 2010 and had to sell my house to complete it. I found I managed to rent by offering 6 months rent in advance, good luck to you.