Renting after bankruptcy

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

Comments

  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
    Tenth Anniversary 1,000 Posts Combo Breaker
    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
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • luvchocolate
    luvchocolate Posts: 3,380 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Home Insurance Hacker!
    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.
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  • wildheart83
    wildheart83 Posts: 859 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    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.
    Feb 2024:
    CC1 6537.66
    CC2 7804.45
    CC3 4221.17
    CC4 2053.68
    CC5 989.30
    Loan 1 3686.44
    Loan 2 5275.22

    Total £30,567.92
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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
    kittykat31 Posts: 29 Forumite
    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?
  • 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!
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