Renting with adverse credit

[Webb27]

So finally exchanged yesterday on my house sale which is great but I need to find a rental to move into with my partner. A few years ago my ex left me with some debts so I entered into a debt management plan and have been paying these back. I sold my house to clear the remainder of the debts which I will on completion. I have several defaults which will drop off in about 3 years so my partner and I plan for rent for the next three years before applying for another mortgage. We looked at a rental this week which we really like. One of the questions on the application was any adverse credit. I don’t have any ccjs or bankruptcy and my debts will be cleared before I would move in. Background info my partner has a perfect credit score and earns approx £20K. My credit score is fair and I earn £43K. I will have approx £80K in the bank after I’ve paid off my debts and mortgage. So I decided to explain this on the application form as I thought it was best to be upfront. I’ve also offered to pay a years rent in advance. Rent is £1200 pcm. We got the application in yesterday and the letting agent said he would forward the application to the landlord but looked quite surprised when I showed him that section on the application form. The offices closed yesterday lunchtime due to Christmas and I don’t think we’ll hear until 28th when the offices reopen. I’m just wondering if I did the right thing being upfront ? I’m worried that I won’t be able to rent. Any one been in this situation. Thank you.

Or any landlords who would comment on this please ? Thank you so much.

Last time I private rented all they wanted to know about was CCJ's/bankruptcy. I had terrible credit then as did my DH and much lower earnings than you and we rented with no problems

I'm a landlord, and the problem for you is there very little availability and a lot of people wanting to rent, which means landlords can be picky.

I would probably rent to you as you have a decent amount of savings, but what would put me off is you going on to buy somewhere, so you would only be looking for a shortish term. Must landlords prefer longer term tenants, 3 or 4 years is good for us.

The credit check only shows ccj and bankruptcy. So no need to mention it

Thank you so much for your replies. I do feel it was best to be upfront and yes we would be renting the property for a minimum of 3-4 years maybe longer. Fingers crossed that we are invited to make an application.

@PrincessofWellies ''I would probably rent to you as you have a decent amount of savings, but what would put me off is you going on to buy somewhere, so you would only be looking for a shortish term. Must landlords prefer longer term tenants, 3 or 4 years is good for us.''

There is never any guarantee that the tenants will stay beyond the initial 1 year term even if they initially were thinking to stay longer term.. They might dislike the area or the rental flat/house, a couple might split up, tenants might move jobs and need to relocate and so on.

Also a tenant who is planning to stay short term will simply not mention it to you anyway...

Oh, I didn't know that 😂

Hi just wanted to give an update. We were completely honest with the landlord and the fact we have two cats too. He agreed to let us apply and just to say our checks with Rent4Sure came back clear and the landlord is letting us put in a catflap. We move in on 1st Feb.