IVA & Debt management plan renting

Rachaelb1989

Me and my boyfriend are still living at his dad's house desperate to get our own place, I have been put on a debt management plan around 3 months ago and he has recently been put on a IVA, like I say we are desperate for our own place, I know they will have a massive affect on us getting a mortgage but I was wondering how much they will affect us renting a place?
Thankyou

PrettyKittyKat

It depends on the individual landlords and their criteria for renting. As long as the rent and house payments don't affect the debt repayments the IVA company will be ok with it. It would be best to ring some renting agents and ask what the view is of their landlords for someone that is part of an IVA. Lots of people rent when on an IVA so it is possible but may take more effort.

Zoee

Rachaelb1989 wrote: »

... was wondering how much they will affect us renting a place?

There's a post on this forum here about the new Rental Exchange scheme where your rent payments are sent to Experian - one of the main credit files providers.

The aim of the scheme is to treat tenant and mortgage payments the same. After all why should mortgage payments show up on a credit file and not rents?

Any private tenant in the UK can optionally sign up, so long as your landlord gives consent and its FREE. More info on the scheme is found on the Experian webpage here

Would say, I agree with PrettyKittyKat's reply above where it's down to the landlord at the end of the day though whether they're willing to give you both a chance and ignore your existing debt payments.

Nothing ventured - nothing gained!

Craig1981

we were 4 years into our iva and were give notice by landlord - stressed a lot due to being on IVA

we lined up a guarantor for this purpose, but was never needed as we passed the checks - we were however renting privately for a while and could provide 2 good tenant references.

bet to speak to agencies etc prior to making any applications, you dont want to waste money if declined