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  • FIRST POST
    • Claire_lou
    • By Claire_lou 12th Oct 17, 4:42 PM
    • 14Posts
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    Claire_lou
    How do I know how much rent I can afford?
    • #1
    • 12th Oct 17, 4:42 PM
    How do I know how much rent I can afford? 12th Oct 17 at 4:42 PM
    Pretty simple question but am going to be renting a property. Anyone have any idea how I can find out what rent I can afford? IE - what will the checks do? I don’t have any debts but don’t have an extremely high salary. I know what I think I can afford but is there any kind of way to work out what checks will assume I can afford?
Page 1
    • Comms69
    • By Comms69 12th Oct 17, 4:44 PM
    • 460 Posts
    • 316 Thanks
    Comms69
    • #2
    • 12th Oct 17, 4:44 PM
    • #2
    • 12th Oct 17, 4:44 PM
    Typical calculation is annual salary =/> 30x the monthly rent.
    • Claire_lou
    • By Claire_lou 12th Oct 17, 5:12 PM
    • 14 Posts
    • 1 Thanks
    Claire_lou
    • #3
    • 12th Oct 17, 5:12 PM
    • #3
    • 12th Oct 17, 5:12 PM
    So if persay, rent was £600, min salary would be around £18k?
    • Comms69
    • By Comms69 12th Oct 17, 5:14 PM
    • 460 Posts
    • 316 Thanks
    Comms69
    • #4
    • 12th Oct 17, 5:14 PM
    • #4
    • 12th Oct 17, 5:14 PM
    So if persay, rent was £600, min salary would be around £18k?
    Originally posted by Claire_lou


    Correct, it's not ironclad, but it's a rough idea.
    • 00ec25
    • By 00ec25 12th Oct 17, 6:16 PM
    • 5,019 Posts
    • 4,366 Thanks
    00ec25
    • #5
    • 12th Oct 17, 6:16 PM
    • #5
    • 12th Oct 17, 6:16 PM
    Pretty simple question but am going to be renting a property. Anyone have any idea how I can find out what rent I can afford? IE - what will the checks do? I don’t have any debts but don’t have an extremely high salary. I know what I think I can afford but is there any kind of way to work out what checks will assume I can afford?
    Originally posted by Claire_lou
    the checks will be whatever the LL or their agent do - there is no standard

    So if persay, rent was £600, min salary would be around £18k?
    Originally posted by Claire_lou
    so 18k annual salary leaves you with £1,293 per month post tax

    spend 50% of that on rent as you suggest and can you LIVE on £600 per month?
    - council tax will be ?
    - utility bills in the property will be?
    - car annual costs + repairs will be ?
    - petrol / public transport travel to work will be ?
    - food will be ?
    - phone contract will be ?
    - BB and/or TV licence will be ?
    - having fun will be ?

    £600 per month is do able provided you live accordingly
    • Claire_lou
    • By Claire_lou 12th Oct 17, 7:36 PM
    • 14 Posts
    • 1 Thanks
    Claire_lou
    • #6
    • 12th Oct 17, 7:36 PM
    • #6
    • 12th Oct 17, 7:36 PM
    Thanks all for the replies. Hopefully it should be pretty plain sailing to get something sorted
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