6 Months Rent Upfront Due To CCJ?

[GaryHatesPaypal]

Hi all, Just wondering if you could possibly help me regarding my current situation?

 

At present me, my wife and 2 children live in a pleasant area of the North West but are seeking a move to a nicer area with a view to buy in around 3 years, I’ll explain why later.

 

My wife has recently come out of work as an MLA within a nearby hospital as the money wasn’t great and we felt it more important for her to be there with the children before and after school as their school work was suffering due to her working hours (breakfast and afterschool clubs ect)

 

Myself, I am a ‘high earner’ as a contractor within the world IT (which I can prove via contracts, bank statements if needed by the letting agent).

 

We do not receive benefits.

 

I am a very normal bloke, no criminal record, no dramas whatsoever, a typical 9-5 worker.

 

After a bit of bad credit issues in the past I’ve really sorted myself out.However, I do have a CCJ which I went to court over and lost. This is from a past relationship (actually 2009) where we struggled financially for a few months and went £2k into an overdraft which we could not pay off.

I went to court as this was primarily my ex’s spend (I lived on my credit card) However, lost and now the CCJ from a debt that had almost expired as a default, has come back to haunt me once more.

 

Story aside, we have to rent again within the area we eventually want to buy but I am fully aware how much of a black mark this is on my record. I am paying it off, but it is still classed as active, and will be until it is satisfied in one year.

 

Where we currently rent, we have never missed a payment, are on excellent terms with a well-known letting agent.

 

We have no other debt to speak of – all utility companies paid on time etc etc

 

We are also in the position to offer 6 months’ rent in advance and my mother (home owner, full time managerial career) has kindly offered to be a guarantor if necessary.

 

My question is, with the 6 months upfront, our excellent references, a guarantor, does this put us in a strong position to rent a house? Or is the CCJ such a mark that it will stop this? Surely people have been in similar positions? Bankruptcy and IVAs springs to mind.

 

Oh – I can also pay my CCJ off earlier however it will still show as active until my next credit report is available – at that time the house would possibly be rented to somebody else…

 

Any help is greatly appreciated.

[Steve__M]

Talk to the agent, and see what the agent wants.

 

Be aware of the risk of handing over 6 months' rent up front - i.e. make sure the agent is legitimate and agree to hand the full money over once the property is genuinely ready to move in and a contract is about to be signed.

[ericsbrother]

The CCJ wont disappear from your credit file if you pay it off, just get marked as "satisfied". This makes little difference to those who use such data blindly so a long chat with lettings agency will yield best results.

[fkofilee]

The CCJ wont disappear from your credit file if you pay it off, just get marked as "satisfied". This makes little difference to those who use such data blindly so a long chat with lettings agency will yield best results.

 

CCJ will go after 6 year, it will still remain in the public records but will go from your CRA

Just remember, Agencies check public records only. They cant see things like defaults on accounts etc.

[legalistic]

Gary, you should not need both a guarantor and 6 months payment up front. Steve__M is right. Paying that amount up front is a risk anyway.

[mariner51]

Prob worth using that 6month rent to 'satify' the CCJ. It will show on credit check, pres as satisfied. G only should be enough with deposit and 1month rent in advance. IMO.

If you are a high earnng IT contractor, are you newly 'self employed' with no recent published accounts?