www.iva.co.uk

Hi, I am currently in my 2nd year of my IVA and am looking to rent a property with my girlfriend.

Please can someone advise me on the affects my IVA will have on the rental process?

Thanks

I'm not sure that your IVA is going to have much of an effect on your ability to rent.
I would imagine that as long as your rental payments don't affect your ability to maintin payments in to your IVA, you should be okay. You may have to pay a deposit. Is that something you can manage between you?

Tell it like it is.

yeah, we can have the deposit ready. We were thinking more along the lines of failing the credit search maybe?

Hi
Be upfront and honest with the letting agent,you may be surprised and be accepted no problems.At the worst you will need to find 6 months deposit.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

We paid 6 weeks deposit and six months rent up front to our letting agent - that was the only way we could rent a property. Tough finding the six months rent upfront but amazing what you can sell on ebay and at car boots to raise this! All I would say is tell the agent before you fill the forms out - if they know in advance then they will help you - don't try and bluff your way through credit checks as it will come back and haunt you!
Thing about paying six months up front is, that once moved in you have to be disciplined to put away what the rent would be each month, as the likelihood will be that the agent will want the next six months up front too and so on - so don't think you can go spending!

Lulu

Some great advice from Lulu,

The best thing to do is be upfront and honest with the estate agent, that way you can stop worrying if they will find out etc. If you wanted to avoid credit checks you could always apply for properties through private landlords as most of the time they do not do credit checks.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

Hiya All, This is the place I find myself in. But I am luck in as much my IVA is now completed and I am on Income Support to stay at home with my son. So I will look for a place that accepts DSS as I understand this way credit checks aren't done. Other than that I have pretty heard the six months upfront rule before and honesty being the best policy. Good luck

Hi,

Yes it will affect you, however, if you fail the credit search because of the IVA, many estate agents offer a guarentor facility. If you have relatives that will agree to stand in if you can't afford the rent then the credit search will not be an issue. I failed mine due to poor credit rating

My rental agents provided an agreement for my mother to sign saying that if I failed to pay my rent, then my mother would be liable for it. After the first six months that aggreeement was cancelled and now I rent with them myself, just show them a good prompt payment with that guarentor agreement in place and they'll let you rent without it eventually.