OpenRent Community

IVA on Credit file

Hi,

I have on my credit file but have a full time job that would easily cover monthly rent and have been renting for 2 1/2 years, would I need to get a guarantor.

Thank you

What do you mean, Matt? That you have a CCJ?

Sorry I have an IVA what was not allowed to carry o when I moved abroad to work I have payed over 65% of these debts off and have been renting for 2 1/2 years without any issues and my salary would fit the rental I am looking for without any issues

Hi Matt,

Tenants don’t strictly need guarantors. Having a guarantor is often preferred by many landlords in cases where a tenant fails referencing. Some landlords will not let to a tenant until they pass referencing, or can provide a guarantor who does.

Your Individual Voluntary Arrangement (IVA) is likely to impact your credit score. Credit scores are one part of a tenant reference, therefore the IVA is likely to impact your reference check outcome (pass or fail), but the exact impact will not be known until referencing is complete.

(Obviously, if everyone knew if people would pass or fail referencing all the time, then there would be no point doing the referencing in the first place.)

So in your situation, I would say it’s likely that landlords will ask you to provide a guarantor if you fail referencing. It will help your search for a property if you are upfront about the IVA with the landlord from the beginning, for example, at the viewing.

I hope that helps,
Sam

Thank you Sam, very helpful indeed