Renting after bankruptcy

Matts_Mum

I went bankrupt in 2013 & was discharged a year later. A year before I went bankrupt I started renting a house & lived there for two years after I was declared bankrupt. Every single rent payment was paid by standing order, on time. I also paid every other bill and utility payment on time.

Luckily enough I work for a large organisation that has job opportunities overseas, so for the last three years I have been living abroad, which means that I have not had to pay any rent for my accommodation.

I'm coming home in August, to a new job with the same employer, but I'm having difficulty securing a property without a guarantor. I'm single & have no one I can ask to be a guarantor.

What are other peoples' experience in this area? Is there anything I can do?

Matt's Mum

National_Debtline

Hi Matts Mum


Unfortunately it can be harder to get a privately rented property whilst bankruptcy is still showing on your credit file (it should drop off in 2019), and it's common that a landlord would want a guarantor. Alternatives could be to offer a larger deposit or rent in advance, e.g. for 6 months. This will obviously depend what's affordable for you.


You could also try explaining what you've told us above to the prospective landlord. If you have any proof, e.g. bank statements, that you paid your rent over a long period of time this may help your case.


Hopefully there will be some others along shortly to share their own experiences. Good luck with finding somewhere.


Susie
@natdebtline

luvchocolate

Would it be possible to get a reference from your former landlord?
If you are looking at a 6 month tenancy to start of with would it be possible to give an advance on the rent?

Try private landlords as you actually meet them not the a letting agency and they can be more understanding.

simicartan

Renting an Apartment After Bankruptcy
Available Income. Potential creditors don't always consider bankruptcy a bad thing. ...
Employment History. Another factor the landlord will likely consider is job stability. ...
Bankruptcy Case Status. ...
Bankruptcy Filing Date. ...
Credit History. ...
Improving Your Chances of Renting After Bankruptcy.

wildheart83

I went BR in 2010, and from 2012 - 2014 I rented privately through LLs who didn't do credit checks or ask for a guarantor, just references.
I then rented through a LA who wanted 6 months upfront.

So there are options other than having a guarantor, it's also worth asking friends/colleagues - word of mouth can work wonders.

TheGardener

I had no problem renting with a 6 month upfront rent payment and a good reference from my employer confirming stable employment status. I've never needed a guarantor.

I appreciate that 6 months rent - particularly in the south - may be eyewatering but perhaps the employer can help?
Are there any other employees with property they let out? Ask around.

kittykat31

Hi, I also went bankrupt in 2013 and have been renting through estate agents since losing our house in 2015. We were really honest and upfront about our financial situation with the estate agents and wrote an additional letter to the landlord confirming that, although our credit history isn't great, we never missed a mortgage payment and were now completely debt free. We were lucky in that we've been able to use the leftover house money to pay upfront (thank God, as rental prices are insane here in the SE). Is there anyone who could lend you the money in advance - for you to pay back monthly?

Mollie_Guinness15

Use local letting agents, and get them to check with the land lord about BR first before parting with any fees. We were fine renting before I was even discharged using this method. Also they'll want 3 months' bank statements which should look great post BR, as no credit cards to pay off etc.

Good luck!