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What are my chances of renting a property?

I have an offer on my house and am looking to rent once it is sold. I have a large mortgage, and the proceeds of the sale will pay off my credit cards, Until then, my credit score is not as high as I would like, What are my chances of being able to rent?

Asked on Mar 2 2014, Renting in Gloucester | Report content

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  • Firstly, landlords are reluctant to let to someone who is in the process of selling, as the sale process can take some time and delays are common. Try to make sure that you have a completion date tied down as soon as possible. I would advise that you are upfront regarding your credit history. Landlords are more understanding when it has been flagged early, rather than coming up on a credit score. If you will have funds let over from your sale, you could offer to pay some months rent in advance. Things to "grease the wheels" are always good, but make sure you don't look like you are trying to hide something!

    Answered on Mar 4 2014, Report content
  • Hi Maggie, your chances should be as good as anybody's. It is definitely best to be upfront about your credit score - depending on the details sometimes your referencing will be affected and sometimes it won't; things like CCJs and bankruptcy are the main things which might cause issues. However, there is certainly the opportunity with a lot of landlords to pay a period of rent up front, usually six months up front for a six month contract, which potentially anything left over from the sale of your house could go towards. Whether you work full time, part time or are unemployed can also affect your referencing, but again, if there are issues, we would give you the option of having a guarantor - a full time working person (friend or family) who would be responsible for rental payments should you falter. There are definitely ways around issues you may be presented, and we never turn someone away no matter what their situation. Good luck in your sale and search for a new home, and should you require any assistance, we are here to help! Kind regards, Wednesday Batchelor, Andrews Lettings and Management

    Answered on Mar 26 2014, Report content

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