Debt and renting

BP1ME

Hi,
I'm putting my house on the market tomorrow due to relationship breakdown. I will be able to clear my 11k of debts, currently repaying via stepchange.

My question is about private renting here in the South East. My credit rating is shot to pieces. Diagnosed with bipolar 1 and have been making inroads but only since October.

Will I be able to get a rental tenancy agreement? I can pay a years rent in advance but am really worried they will credit check me and say no. I have 2 children aged 11 and 13.

Any advice very much appreciated.

phoenixx

BP1ME wrote: »

Hi,
I'm putting my house on the market tomorrow due to relationship breakdown. I will be able to clear my 11k of debts, currently repaying via stepchange.

My question is about private renting here in the South East. My credit rating is shot to pieces. Diagnosed with bipolar 1 and have been making inroads but only since October.

Will I be able to get a rental tenancy agreement? I can pay a years rent in advance but am really worried they will credit check me and say no. I have 2 children aged 11 and 13.

Any advice very much appreciated.

Hi - I understand why you are concerned but do think you will be able to find something. The credit search usually covers things like CCJs and bankruptcy (IVAs as well it think) - things in the public domain. You will be in a stronger position if you don't have any of these but you should still be able to get something if you do. Consider private rentals that don't go through agencies - my experience is that these rarely do a check. Try local papers for listings. Some ask for larger deposits - up to 3 months I've heard of or guarantors. Of course, the biggest advantage in finding a rental is being able to show you can afford it.
I hope your treatment for the bipolar is working. Sometimes GP letters can be influential in securing accommodation plus the fact that you have children.

Good luck in your search.

Phoenixx

phoenixx

Just re-read. Being able to a year's rent in advance is a big advantage.

KirstyO

Hi,
I was paranoid about this 12 months ago.
I have 1 default that was nearly 2 years old at the time and was convinced this would scupper my chances. It turns out it didnt, and because I was so worried about it I went through with the agent all of the 'what ifs'.

They came back and said that if anyone ever fails a credit check but still wants the property they put it to the landlord who can then impose conditions (such as 6 months or a year upfront), in which case, you have nothing to worry about!

HTH x

sickasachip13

Hi,

Well done in your progess :-) We have 19 creditors on our DMP (for about five years now) and have taken out two new tenancies on two different properties in that time - nothing has come up because while we have defaults and late payment markers, these don't come up on the landlord/estate agent searches, only CCJs, Bankruptcy etc.
I think you'll be absolutely fine, try not to worry :-)
SAAC

sourcrates

Landlords etc have no access to any financial information on your credit file, the only info they see is the public information, name, address, electoral role etc.

National_Debtline

Hi

As the others have said, when you apply for a tenancy the credit check is to verify your identity and they can also see court orders and fines, insolvency etc. It’s not the same as when you apply for credit.

If you have any issues you could try contacting a landlord directly via local classified adverts rather than through an agency. I know from personal experience that not all landlords run a credit check, whereas it seems to be standard practice for most letting agencies.

James
@natdebtline

BP1ME

Thank you all so much. That has really put my mind at ease. I don't have any IVA's, CCJ's or bankruptcy - just millions of defaults, missed, late payments, about 100 pay day loans.

I knew the peeps on this forum would know the answer. Currently on sleeping pills, antidepressants, antipsychotics to get on top of bipolar but feel so much better now I know I'll be ok to rent with my kids. Thank you