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Shell58
Starting Member
12 Posts |
 Posted - 03 September 2011 : 18:38:44
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Hi,
I know I will lose my home and will have to rent privately. From everything I have read on here I know I will need to save a deposit before my BR but what allowance does the OR give you for renting a 3 bed. I want to try and get sorted before Xmas and it isn't long away but how will I know before I start looking how much they allow for renting? I might be asking the unanswerable but can anyone help? Thanks.
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 September 2011 : 19:40:45
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I think that as long as it isn't excessive and is average for the area then you should be ok. Hopefully one of the experts can advise further.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 September 2011 : 20:50:10
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I agree with Jan, providing it's not excessive you should be fine. It's very difficult for us to say what's reasonable as rents vary so much in different areas.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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Shell58
Starting Member
12 Posts |
Posted - 04 September 2011 : 17:48:49
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Thanks for your responses. I am just worried that the allowance will be decided on my current mortage payment (interest only) which is below most 3 beds in private rented sector and when I get somewhere I won't be able to afford it 
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 04 September 2011 : 17:59:37
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Sorry Shell, I think this is something you need to speak to the OR about.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 04 September 2011 : 19:07:29
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Hi Shell,
As the others have said, if you are in a property that's reasonable for your needs, ie, you're not living in a 5 bed house when it's just you, and the rent is not excessive, then the rent will be allowed.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Allowance for renting
