Renting a house/letting agents

silentloner

Hello there,

I am on a rant/advice. Basically I am from up north and I have trained as a teacher and got a job lined up for july after I finish my PGCE and I need to relocate to the south east. I have found a lovely house that I have said I wanted (with a little help from the parents I can afford it)

However I have recieved the terms and conditions of the letting agents and they credit check you (always dodgy with me) and they do an "affordability" check which is a certain amount x your salary etc etc.

Anyways on the basis of this I will fail along with no being able to provide pay slips (I start my first teaching position in july) I need advice because this is as complicated as getting a mortgage! This is totally stressing me and my family out so advice would be appreciated. The area is aylesbury/bucks by the way.

<sebb>

Nearly all letting agents will credit check you. If you dont think you will pass the checks you can ask your parents to be your guarantor.

princessamy86

You'll probably be asked to have a guarantor-someone who will sign to say they will pay your rent in the event of you defaulting on payments. I don't think they will need your wage slips though, we certainly don't ask for them. I think they fax something over to your employer to confirm you are/will be working there and will be earning the amount you said you would be. The multiplier we use is 30: so salary needs to exceed whatever 30 x monthly rent is. HTH

silentloner

Yes I have a guarantor ready and are willing to provide this at the start. I just dont want to pay £260 in admin fee's for them to say sorry you cant have this and due to the DPA I am not allowed to know why

silentloner

Oh and I am a student at the minute and have been for 4 years so my credit history/earnings will not show my projected earnings at all.

princeofpounds

Oh and I am a student at the minute and have been for 4 years so my credit history/earnings will not show my projected earnings at all.

Credit histories have nothing to do with earnings. They are just a simple record of addresses, court judgements (if any), credit facilities available to you and if you have missed any payments.

NEH

With my husband being self employed we had to think of other ways to guarantee a property. If you could offer a couple of months rent up front that may swing it in your favour...It may mean borrowing or using savings but if you want the house it worked for us. In the end we weren't asked for the money but I think we got it because we offered it....

Jowo_2

So are you able to show the agents your contract and proof of job offer for the summer if they express any reservations about your income?

silentloner

Yes I am, we were thinking about offering the option for a few months rent in advance.

clutton_2

letting agents charge charges... thats life... read their T&Cs carefully to find out which parts are non refundable and which are not ....

princessamy86

Have you spoken to the agent? What do they say? Do they think you'll pass their checks as long as you have an employment contract? You seem to have made up your mind that you won't get this place! Ring the agent, explain the situation. See what they say. I'm almost sure it will be fine, as long as you have proof, which you do.