Want to rent, but bad credit history.

BoingBoing_2

Hi, I'm in a private rented 2 bed house atm, my LL is increasing my rent by £55 a month from August to £550.

I feel that the increase will take the total way over what I consider acceptable for a small 2 bed semi, and I've seen a 3 bed semi for only £580 a month.

The problem is that this new house is through an agency. My partner has a v recent CCJ, and I have 2 defaults (1 is for over 8k) within the last year, plus we both have poor credit ratings anyway.

Does any1 out there have any advice or ideas that will make us more acceptable to an agency?

My parents will give me 1K which will cover deposit, fees and moving, but I can't find any extra money to offer 2 or 3 months rent in advance (unless I talk to my bank about borrowing the money, then I pay it back over the 2/3 months?)

Any ideas, comments etc are most welcome.

rosysparkle

You will not pass an agency credit check - sorry to be blunt but there is no way I can say it in a softer way! The CCJ alone, if unsatisfied, will be an immediate decline. Your failed refs will mean six months up front or a guarantor who can pass the refs for the full rent.

Do you want to move? If not, could you try and negotiate with your landlord? You might be able to compromise, particularly as you have till August before the rise happens.

If you do decide to move on the ground that £550 is too expensive, is it wise to go for a bigger property at £580 which may cost more in council tax and heating (and probably water if unmetered)?

ashli_2

Hi Boingboing,

I don't know if this is vaguely applicable for where you live but here in Sheffield there are tons of student renters and therefore tons of private landlords. I have been renting here since 1999 (:eek: ) in various properties and I have never once been down the agency route, mostly because as a student I never had the wherewithal to cope with agent's exorbitant fees and demands. I have never, ever had a credit check for renting a property.


Have a scout in your local papers, free-ads and newsagent's windows and see if you can bag yourself a private landlord. Local internet forums often advertise houses to let. Chances are you'll get a cheaper rate too.

BoingBoing_2

Thanks Rosy, I knew we'd never pass with his CCJ but a friend who works for that estate agents thought I may pass if I applied and he was just named tenant.

I feel that £550 is too much for the house i'm in atm (2 bed, 1 livingroom, kitchen & bathroom) where as the house i'm looking at (3 bed, livingroom, diningroom, kitchen & bathroom) is same council tax band and has a combi boiler which means no more turning the back boiler on just to heat up an entire tank of hot water just to wash up!

Oh, i've 2 children boy 8 girl 6 who share a room atm, hence the reason behind wanting to move.

Ashli, i've been looking for another private LL for a while now without success, my current LL is great but doesn't own any other property in this area.

rosysparkle

I don't want to pry into your finances, so feel free to ignore - is your income sufficient to pass the references? With Letsure, which many agents use, to pass on affordability the rent should be less than 40% of your income.

If you can pass on that, and get a referral on the risk score, you might be OK to have the tenancy in your name with your OH as a named tenant.

I don't personally deal with refs at work, but I know that the negotiators that do will discuss what potential applicants need to have to pass refs. You could call the agent and ask them if they think you will pass the refs and if there is anything you can do to maximise your chances of passing. I would not want you to pay out non-refundable admin fees if you are going to fail!

Is there anyone who would be prepared to stand as guarantor for you? They would need a clear credit history plus sufficient income to cover the rent after their own housing costs.

flis21

I am just dead jealous, only £550 for a two bedroom house!! I am currently paying £650 for a two bedroom flat that is falling apart!! Houses round here start at £700 for a two bed house and £750 for a 3 bed house.

Anyway, we have bad credit history and got my parents to stand as guarantor for us when we moved in. Would you have anyone in a position to be able to stand for you?

BoingBoing_2

Rosy, that depends on whether they class income as just income from employment, or take into account tax credits, housekeeping from my partner, and maintenance payments?

If it's just on income from employment, then no way will I pass, if I can include the other sources then it'd be under to 40%

BoingBoing_2

I don't have any1 to act as guarantor either, mayb I'm hoping for too much and should just stay put and put up with the increase whilst I carry on the endless search for a private LL...

ashli_2

Blimey Flis, where do you live? :eek:

BoingBoing_2

lol compared to Flis, I should consider myself lucky!?!

Alleycat

Sorry OT, but flis, do you fancy a two bed in Bradford for £340?!! We're moving from here to London very soon and getting freaked by the rental prices!