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How To Rent A House With Bad Credit And No Guarantor - Daily News Egypt

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How To Rent A House With Bad Credit And No Guarantor

When it comes to renting a home, there are so many things that you need to take into consideration.


When it comes to renting a home, there are so many things that you need to take into consideration. But one of the most common worries that new renters have is whether their bad credit is going to affect their ability to rent a house. In many cases, this problem can be addressed by using a guarantor, this is a person who assumes responsibility for the rent payments should you fail to meet them. However, for one reason or another, not everyone can get access to someone willing to be a guarantor. In this case, are you still able to rent a house?

 

How To Rent A House With Bad Credit And No Guarantor

There are things that you can do to still be able to rent a house despite having a bad credit score and no guarantor. Some of the solutions may take time whilst others are pretty much, an instant fix. Let’s take a look at some ways in which you might be able to get around this type of situation.

If you have time to spare and are not in an immediate hurry to rent a house then the best option is to work at improving your credit score. In truth, this is not something that can be easily fixed overnight and so is only an option in reality if time is not an issue. But by improving your credit score, you will eliminate the need for a guarantor. If you have a previous landlord who would be willing to write a written reference for you, then this is an excellent way of giving peace of mind to your new landlord. Providing that, despite having a bad credit rating, you kept up with your previous rental payments and paid any other fees that were required on time, then the word of your previous landlord could seal the deal and get you the property you desire. There are now services available from which you can hire a guarantor, and whilst this may be a pricey option, it certainly takes away the issue of not having one. This service is available in the UK for both UK nationals and those living here from abroad. The last option is to offer the landlord an advance on the rent for a longer period. The usual way of doing this would be to make a full six months or years worth of rent before moving into the property. This will give the landlord peace of mind as they will not have the worry of you missing a payment with them already having being paid.

 

Conclusion

With some of the options, we have discussed there is a financial strain involved, forking out for six or twelve months’ worth of rent can be a costly endeavour and the hire a guarantor service doesn’t come for free. That being said, there is always the option of taking out a loan, whether that be a personal loan or one of the ever-popular doorstep loans. If this is something that you are considering, you will first want to compare loans to make sure that you are getting the best bang for your buck and one of the best ways to do this is to use a loan comparison website like www.nowloan.co.uk At Now Loan, you will have the opportunity to compare thousands of loans giving you the best chance of finding the one most suited to your needs. This is also a great way to boost your credit rating, since making timely repayments can increase your score.

Topics: rent

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https://ww.dailynewssegypt.com/2020/03/13/how-to-rent-a-house-with-bad-credit-and-no-guarantor/
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