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    • troubledbydebt
    • By troubledbydebt 4th Mar 18, 8:46 PM
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    troubledbydebt
    Renting with bad debt - is it possible?
    • #1
    • 4th Mar 18, 8:46 PM
    Renting with bad debt - is it possible? 4th Mar 18 at 8:46 PM
    Hi all
    Getting divorced and need to rent a place in Cambridge. All the places I'm looking at are being looked after by the big agents. Savills and the like.

    I've got a poor credit file and a very low overall score. No CCJs or IVAs though.

    Ironically, we own our current home outright so I'll be in a decent financial position for the first time in 10 years!

    But I won't have that cash until the house is sold and I need to organise a place in the meantime.

    Is this even possible?

    I can pay the full year upfront if needed.

    Grateful for any assistance.

    Cheers

    P
Page 1
    • rachpid
    • By rachpid 5th Mar 18, 12:30 PM
    • 20 Posts
    • 8 Thanks
    rachpid
    • #2
    • 5th Mar 18, 12:30 PM
    • #2
    • 5th Mar 18, 12:30 PM
    Yes it's completely possible. All the letting agent checks can see is your public file, so as long as you have no bankruptcy or CCJs, and are earning enough to cover the rent then you will be fine (think someone said 2.5 times the rent before). I've just passed all of our checks and am on a debt management plan with a few defaults and poor credit score, and our letting agents were a big chain who use one of the major reference agencies (HomeLet). They'll also ask for job references to make sure you're earning the amount you say you are, plus usually past landlord (not sure what happens if you go from buying to rental), and check you were on the electoral roll at your last address.
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