How can I rent a property with an IVA when all landlords/letting agents want credit check ?

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Rebecca.71

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Post by Rebecca.71 » Mon Jun 01, 2015 9:49 pm
How can I rent a property in my name with an IVA when all landlords or letting agents ask for a credit check?
 
 

Steven1001

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Post by Steven1001 » Mon Jun 01, 2015 10:02 pm
I'm afraid you will only be able to rent through private landlords and not letting agents.

The only other way I've known someone else rent through a letting agent was to pay a chunk of rent up front. 6 months in the case of my friend!
There's more to life than money....but it does help!!

64 payments made. Full and final with payments made to date accepted on 26/05/15 :-) completion certificate received 17/06/15 :)
 
 

Foggy

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Post by Foggy » Mon Jun 01, 2015 10:03 pm
Many will work around an IVA with increased deposits or rent up front or a guarantor. Some will even accept the IVA, after all, you are stricter with your budget than most! Be upfront to save a wasted search ( and fee).

Otherwise approach private landlords who do not, generally, have access to credit checking.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Jun 03, 2015 10:26 am
Do you know someone who may be prepared to act as guarantor?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Tx1pete

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Post by Tx1pete » Wed Jun 03, 2015 11:27 am
I was told by payplan id need a small deposit to rent as I was selling house to pay back IVA.. Now I'm sleeping on friends floor as rental companies want 12 months rent . IVA s are a rip off !!!!!
 
 

Adam Davies

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Post by Adam Davies » Wed Jun 03, 2015 12:08 pm
Hi

Usually creditors will allow you to retain enough funds to secure rented Accommdation if you sell your property whilst in an IVA

Regards
Andam Davies
 
 

Michael Peoples

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Post by Michael Peoples » Wed Jun 03, 2015 12:21 pm
Andy is right. We will allow up to a year's rent from the sale proceeds as it is common practice for rental agencies to request a bond and six months rent. Creditors are normally fine with this.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Tx1pete

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Post by Tx1pete » Wed Jun 03, 2015 12:35 pm
No.... Payplan allowed me 3000 pounds in total . I am now saving for a deposit, effectively homeless for a year !! Don't trust IVA companies
 
 

recovering

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Post by recovering » Wed Jun 03, 2015 1:47 pm
I'm not sure you can tar all companies with the same brush! I understand your frustration though
Hope things get better for you soon
 
 

Michael Peoples

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Post by Michael Peoples » Wed Jun 03, 2015 2:00 pm
It is always worth getting advice from the independent professional sector as well as the bank funded and charity firms. Recovering is right as all firms are not the same.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Shining

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Post by Shining » Wed Jun 03, 2015 4:57 pm
I know companies vary and some letting agents do require much more up front but it is possible- best advcie to be honest and up front from the beginning and they'll say yay or nay.

Tx1pete sorry you had an unpleasant experience but like recovering says they're not all the same.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kev59

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Post by kev59 » Sat Jun 06, 2015 12:40 pm
when I sold my house to do a f&f, after losing my job.
I was aloud to keep enough to set up a rented flat. ie pay 6 month upfront. replace that were part of the sale (white goods ) after a year and with a guarantor I now pay monthly. The iva company I was with could not have been more helpful
IVA now over with and it was worth it.
now starting my life again,
 
 

hwima

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Post by hwima » Sat Jun 06, 2015 1:22 pm
That's sad. We tried moving house last year but were turned down by every agency yet we've never missed a months rent in our lives. One never really understands the impact the IVA until they're denied the basic things they've always taken for granted. We're still in the old house and can only say it will come to pass. Best wishes
*IVA started Sept 2010
*Last Payment Taken August 2015
*Completion Certificate Issued November 2015
 
 

thisusernameistaken

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Post by thisusernameistaken » Sat Jun 06, 2015 10:21 pm
This thread has made me realise how grateful I should be that I have a flat and mortgage. Trying to rent somewhere must be a nightmare in an IVA, despite the fact your budgets are more structured and realistic than most.
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