Renting during an IVA
One of the main concerns for anyone entering an IVA is what will happen to their home – whether that’s their own home or a rented property. You will find answers to the most common questions we get asked whether people can rent a property during an IVA below.
Will an IVA affect my current rent contract?
An IVA shouldn’t affect your current rent contract but we recommend you check your contract just in case there is a clause to say you can’t be insolvent while residing at that address. Your landlord won’t be told about your agreement however and the property won’t be considered as part of the IVA.
Your IVA shouldn’t affect your current living situation – when you draw up your income and expenditure to determine how much …show more content…
Your credit rating will be impacted during an IVA. This means if your prospective landlord requires you to have credit checks before signing a rental agreement then you might struggle to rent another property during your IVA. This may also be the case in renewing a letting agreement – if you have to go through the credit check process again during a renewal your landlord might raise his concerns.
Renting during an IVA might not be an issue however as if you are renting with another person or if you could get a guarantor to assist with your application. This will be dependent on the landlord however but there may be other options available. Be upfront with your landlord or letting agent when applying for a property and they might be more willing to help.
Will an IVA prevent me renting a home in future?
An IVA will affect your credit rating for five to six years so during this period you might find it difficult to rent a home. It will depend on whether your landlord does credit checks and whether they are willing to let to someone in an IVA. Your credit rating will be clear however six years from the date your IVA was agreed or in the event your IVA takes longer than six years – once it has completed. You can then start to rebuild your credit rating and you shouldn’t have any further problems renting a
One of the main concerns for anyone entering an IVA is what will happen to their home – whether that’s their own home or a rented property. You will find answers to the most common questions we get asked whether people can rent a property during an IVA below.
Will an IVA affect my current rent contract?
An IVA shouldn’t affect your current rent contract but we recommend you check your contract just in case there is a clause to say you can’t be insolvent while residing at that address. Your landlord won’t be told about your agreement however and the property won’t be considered as part of the IVA.
Your IVA shouldn’t affect your current living situation – when you draw up your income and expenditure to determine how much …show more content…
Your credit rating will be impacted during an IVA. This means if your prospective landlord requires you to have credit checks before signing a rental agreement then you might struggle to rent another property during your IVA. This may also be the case in renewing a letting agreement – if you have to go through the credit check process again during a renewal your landlord might raise his concerns.
Renting during an IVA might not be an issue however as if you are renting with another person or if you could get a guarantor to assist with your application. This will be dependent on the landlord however but there may be other options available. Be upfront with your landlord or letting agent when applying for a property and they might be more willing to help.
Will an IVA prevent me renting a home in future?
An IVA will affect your credit rating for five to six years so during this period you might find it difficult to rent a home. It will depend on whether your landlord does credit checks and whether they are willing to let to someone in an IVA. Your credit rating will be clear however six years from the date your IVA was agreed or in the event your IVA takes longer than six years – once it has completed. You can then start to rebuild your credit rating and you shouldn’t have any further problems renting a