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First time renters.
Niklas33
Posts: 173 Forumite
A good evening to you all.
Myself and my partner are looking at moving in together, we both live in the South West of England we decided to rent where he lives as it's cheaper than where i reside.
I'm 21 and he's 23
He works and so do i (currently), however once we do move i will need to find work in that location i have over £5000 pounds saved.
But he's insisting that the tenancy agreement is in my name only as he ''Has bad credit'' i know of his financial situation he has a few loans total debt is around £1400 to pay off from credit cards when he was a student i on the other hand have no debts what so ever.
Just wondering is this a wise move to make? - Or should i insist on both names being on the tenancy agreement.
Thanks once again.
Myself and my partner are looking at moving in together, we both live in the South West of England we decided to rent where he lives as it's cheaper than where i reside.
I'm 21 and he's 23
He works and so do i (currently), however once we do move i will need to find work in that location i have over £5000 pounds saved.
But he's insisting that the tenancy agreement is in my name only as he ''Has bad credit'' i know of his financial situation he has a few loans total debt is around £1400 to pay off from credit cards when he was a student i on the other hand have no debts what so ever.
Just wondering is this a wise move to make? - Or should i insist on both names being on the tenancy agreement.
Thanks once again.
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Comments
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Any landlord or agency will want to carry out credit checks, so I can understand why he wants your name on the tenancy agreement rather than his. Saying that, it would mean that you would be completely libel for the rent/bills etc. and he wouldn't be. Do you have a parent who would be willing to be a guarantor for you? When I was in my 20's...not too long ago...that's what my mother did for me. BF at the time had bad credit too. It might be a viable solution for you.SPC7 ~ Member#390 ~ £432.45 declared :j
Re-joined SW 9 Feb 2015 1 stone lost so far
Her Serene Highness the Princess Atolaas of the Alphabetty Thread as appointed by Queen Upsidedown Bear0 -
Sadly i don't this is what i'm scared of to be honest being left with all the responsibility and he might leave...i know he wouldn't but thing's change.0
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I'm pretty sure the agent would insist on having both of you on the agreement.
If they allow it, could you afford to live there on your own if you split up? Including all utilities?
On the face of it, it seems quite one-sided where risk is concerned and I'd be wary of doing it. How long have you been together? Has he got anything saved?
You are moving (I'd say a fair distance if you need to get a new job), will presumably know very few people, have a few thousand saved where he is in debt, and he wants you to take all of the legal responsibility as well?
Exactly how bad is his credit history? Are they just credit card debts that he is paying off each month, or have some accounts defaulted? £1400 is not a lot of debt in the grand scheme of things so it's the history behind the debt that is more important.0 -
He pays them off every month.
We've been together for 4 years now and i couldn't afford to live on my own if we split up.0 -
He pays them off every month.
We've been together for 4 years now and i couldn't afford to live on my own if we split up.
If he is making the regular agreed payments on a loan, then I wouldn't think it would have much impact on his ability to rent with you. Unless he has had any accounts default or CCJs issued in the past.
If you can't afford to do it on your own, then insist that he is also on the agreement. Otherwise you will be the one to suffer if things go wrong.
Has he/you used one of the credit reference agencies to get his credit report? Ignore the fairly meaningless score, but it will show him/you what his credit history looks like to an agent.0 -
Thanks so much - I'll get a credit report.
He's not defaulted on any of his debts in the past nor any CCJ's0 -
He's insisted on opening a direct debit where our wages will be paid into so we can pay the debts etc.
Is this a wise move?
Sorry for these questions i'm sure i sound naive but any advice/tips would be hugely appreciated.0 -
Thanks so much - I'll get a credit report.
He's not defaulted on any of his debts in the past nor any CCJ's
In that case I would think he should be ok to be on the agreement. Also, if you couldn't afford it on your own, you may well get turned down if they do an affordability check if it is just in your name.0 -
He pays them off every month.
We've been together for 4 years now and i couldn't afford to live on my own if we split up.
What's the advantages for you in moving then; if you are both in work where you are? Just look after your £5K. Be careful out there.
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Because i live in Penzance and he lives in Exeter and the distance is quite a long way.
And because he's asked me to marry him.0
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