Hi I’m just looking for advice from landlords etc. I moved to England to from Northern Ireland tobe with my partner I’m setting up a business here and I’m self funding my rent and a share of my business, it’s only starting so obviously I have no accounts or an accountant just yet. I have a decent credit report, I owned my own home for 16 years and worked hard to keep it in decent, condition. I have all my references I can get a guarantor, have 6 to 12 months deposit up front. It’s been nearly a year now of searching I know the market is terrible, would anyone be able to advise what else I can do to get a property,??
What area are you looking for ?
I assume you are being rejected often? Could you lower your standard perhaps or widen the catchment area?
Is your credit good? Savings?
I have been S/E for 50 years . When I was 21 or so i could not get a mortgage for £4 k >30 years later having a load of accountant based accounts the same Halifax was falling over themselves to lend me many tens of thousands. Hence your problem . S/E young business, no accounts, bigger risk for landlord.
Someone employed for 3 months in a new company is considered fine and low risk. The director of this company is considered high risk. Work that one out!
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Err, I don’t get it. You are clearly living somewhere at the moment, so you are looking for a more ideal place? Unfortunately you arrive at a time when the government has declared war on private landlords and hundreds of people every day are showing up from all over the world needing housing, and as they get 5 year government guarantees then they would probably be a safer bet than someone self employed for many landlords.
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I was mainly looking for a house at 2 bedroom house, now I’m considering flats, there isn’t that many properties to be rejected from, I have plenty of savings, sold my own property, no court judgements , I have more time on my hands to fill in forms and view properties so hopefully that will work
Lancaster, considering widening the area
I’m in a house share, landlord is selling up,
Yep does not make sense to me
Unfortunately having an upfront rent can be pushing a problem to a later date for a landlord. It highly depends on tenants circumstances. Saying that I rented to someone who moved back to UK and he had a decent guarantor with good profession. Even tenant pays upfront I still need a guarantor because contract becomes periodic and you will have the issue year later. I personally struggle to let to you due to the fact that your business is not stable and this is nothing to do with your character etc. Does your partner work? Joint tenancy?
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A 5 year g/tee from the goverment is not attractive to me under any circumstance I trust no gov, or l/a
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Hi Sharon, the rental market is crazy, too many tenants chasing too few properties. As a landlord, if you offered me 212 months rent up front, (not deposit) plus a guarantor, and explained you’ve owned a property for 16 years and know how to take good care, I would invite you for a viewing. Sadly I have noticed in your area, however.
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Sorry, 12 months rent. Typo
As someone has already said, the government is bashing private landlords right left and centre. Many landlords are therefore selling their properties, so there are less to go round, even for the good and perfect tenants. It’s a sad situation and the future is not bright.
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Thanks for your replies
I put all my applicants thro referencing if they pass this I can them take out RGI.If you can pass a reference you should be good. If you offer to pay for your reference £20 I as a landlord would look on that as promising.
Guarantors are only any good if they have assetts, if they havent it means recovery of debt from them is not going to happen
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It is illegal for a landlord to accept money from potential tenants for their own referencing. I hope you don’t do that.
Thanks I have two guarantors both with good assets , do you both mean referencing as in credit rating? Mine is fine I’ve no ccjs or anything
Referencing through a company like open rent or rentguard who will check out an individual or guarantor and confirm their employment, credit rating ,check for CCJ, history previous LL ect. Once confirmed to the applying LL the LL will then be able to take out RGI like I do and ensure the rent is paid or eviction is covered in the event of default.