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Looking to rent

edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
8 replies 1.2K views
terrence45terrence45 Forumite
132 posts
edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
Morning everyone. I'm 2 years post discharge and looking to rent my own place for the first time (small studio in a popular town).

So far I've been renting rooms privately but I want my own place. I know my credit history is going to write me off with estate agents, but is there a chance I could pay e.g. 3 or 6 months in advance to sweeten the deal, or ask a family member to be a guarantor?

To make matters worse I'm going to be a full time student again, so not earning!

Replies

  • Don't worry - I've ended up pretty much getting the answer on another thread! Can be deleted (can't work out how).
  • What was the answer?
  • What was the answer?

    The answer was maybe, depends on the landlord! Clearly they'd prefer someone with a glistening credit record, but they may be keen to get someone in.
  • Ah right. Thanks for the info.

    I'm a renter but the area I live in has high demand so the landlords can pick and choose.

    It's my biggest worry about wrecking my credit rating!
  • Ah right. Thanks for the info.

    I'm a renter but the area I live in has high demand so the landlords can pick and choose.

    It's my biggest worry about wrecking my credit rating!

    If you're currently in a place that you're happy with then you could just stay put? The OR won't usually tell your landlord that you've gone bankrupt, so they need not know. They do ask for their contact details though for some reason, and possibly a copy of the lease (in case there's any value in it, I guess).

    So far in 2.5 years since bankruptcy I've rented privately - so directly with landlords, not estate agents - so no credit checks or anything. If you were to use estate agents maybe you'd need a sweetener like rent up front or a guarantor.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • Frey85Frey85 Forumite
    3 posts
    In my local area private rentals are as rare as hens teeth, therefore renting with estate agent was my only option (Not yet bankrupt but very poor credit rating ).

    I offered 6 months upfront (relative) or a guarantor . I found most agents preferred the guarantor option which surprised me as I expected them to want the 'cash in their hand'. The reasoning apparently that landlords prefer stability of long term rentals & didn't want to be worrying in 6 Months if no further monies materialised.
    Good luck
  • mwarbymwarby Forumite
    2K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    terrence45 wrote: »
    They do ask for their contact details though for some reason, and possibly a copy of the lease (in case there's any value in it, I guess).

    Possibly so they can check the amount claimed is correct and it is a normal landlord tenant relationship, and not an attempt to mislead the OR
  • Wee update, in case anybody cares... Have taken a very nice flat through a regular agency. Told them I was a student and ex-insolvent - they required a guarantor as expected, but that's it. Easy peasy and no extra rent up front.
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