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  • #1

    fao PlanB

    Hi , the saga with my son and his grilfriend ahs be resolved all is well and we are all happy bunnies .

    Now they are both looking to rent a home togethe but the problem is the deposit , i did a google search and there is a rent deposit scheme where the they can borrow the rent deposit and pay it back out of their wages each month.

    My son is full time employment now and doing really well so paying it back would be fine , have you heard about this scheme and would my son be eligle for it he is 25 years old .

    Please and thank you xx
    _______________________________________



    Tags: advertising, arrears, charities, claim, email, employment, finances, financial, fine, google, government, gumtree, insurance, interest, landlords, law, living, loan, money, nice, paid, pay, policy, properties, property, rent, saga, scam, scheme, share, thank you, wages, young
  • #2
    Re: fao PlanB

    That's a subtle thread title

    I'm glad things have been reconciled with your son and his girlfriend.

    If they're going to be living together for the first time it's important that they get some formal 'understanding' between the two of them on the finances of this rental. If they're young and in love they won't consider what will happen if the relationship flounders (which I hope it doesn't).

    If the tenancy agreement is in both names then they will both be jointly and severally liable for all the rent. In other words if one can't pay or stops paying or moves out, the other will have to cover all the rent not just half because they'll be legally liable for it. If your son is going to be paying the lion's share then he must keep a record of that too.

    It's not compulsory for a Landlord to take a deposit from a Tenant. There is no law which says they must. Most do as an insurance policy against damage or rent arrears but there are plenty of Landlords advertising properties on Gumtree which don't require an upfront deposit. There were 1,131 properties available without a deposit when I checked this morning. Type in "no deposit rent" in the search box.

    I'm not familiar with the scheme you've sourced whereby your son could pay the deposit in monthly instalments. It sounds like a loan facility which pays the deposit to the Landlord and then claws it back fom your son afterwards. I'm guessing there will be interest involved which may be excessive. Can you post the link or email it to me so I can look it over. Beware of a scam where the deposit doesn't actually get placed in a Government scheme etc.

    There are charities which will loan the deposit money without interest which needs to be paid back once you move out of the property at the end of the tenancy. To qualify there would need to be some financial hardship or a sob story

    Plan B x

    Comment

    • #3
      Re: fao PlanB

      Originally posted by PlanB View Post
      That's a subtle thread title

      I'm glad things have been reconciled with your son and his girlfriend.

      If they're going to be living together for the first time it's important that they get some formal 'understanding' between the two of them on the finances of this rental. If they're young and in love they won't consider what will happen if the relationship flounders (which I hope it doesn't).

      If the tenancy agreement is in both names then they will both be jointly and severally liable for all the rent. In other words if one can't pay or stops paying or moves out, the other will have to cover all the rent not just half because they'll be legally liable for it. If your son is going to be paying the lion's share then he must keep a record of that too.

      It's not compulsory for a Landlord to take a deposit from a Tenant. There is no law which says they must. Most do as an insurance policy against damage or rent arrears but there are plenty of Landlords advertising properties on Gumtree which don't require an upfront deposit. There were 1,131 properties available without a deposit when I checked this morning. Type in "no deposit rent" in the search box.

      I'm not familiar with the scheme you've sourced whereby your son could pay the deposit in monthly instalments. It sounds like a loan facility which pays the deposit to the Landlord and then claws it back fom your son afterwards. I'm guessing there will be interest involved which may be excessive. Can you post the link or email it to me so I can look it over. Beware of a scam where the deposit doesn't actually get placed in a Government scheme etc.

      There are charities which will loan the deposit money without interest which needs to be paid back once you move out of the property at the end of the tenancy. To qualify there would need to be some financial hardship or a sob story

      Plan B x

      sorry i really needed you're attention x

      At the moment he has no fixed abode so needs a place asap he is sleeping at her mum's unoficially , also not sure if it would help their case but his girlfriend has fibromyralgia and is at the moment on a collage course so my son will be keeping her and he has been told he can claim working tax credits when he finds a place to live , the loan for a deposit would be helpful if you can let me know which charities might help please .

      thank you again you always come to my rescue xxx
      _______________________________________



      Comment

      • #4
        Re: fao PlanB

        Fibromyalgia is not nice an old friend of mine has it quite painfull I think xx
        if you do it today and you like it you can always do it again tomorrow

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        • #5
          Re: fao PlanB

          Originally posted by nanna58 View Post
          Fibromyalgia is not nice an old friend of mine has it quite painfull I think xx

          yes she is often in a lot of pain , takes medication for it im not sure if it would help them if they mentioned it but they can't move in anywhere without a deposit x
          _______________________________________



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