Renting in London

hm2be

I am a mum to be looking too move into a flat around the area where my mum lives. Although I have a partner, for personal reasons he wont be living with me. I am earning £20,000 a year and the rent rates around the area I want to live are between £180 a week to £250. I have worked out my budget including coucil tax bil etc and I can afford £200pw tops which limits my choices. When I found somewhere the landlord told me that the rule of thumb they use is annual salary should be 3 times yearly rent, which mine obviously isnt. Although it doesnt take into account child tax credit plus the money I would receive from my partner.

Has anyone heard of this rule of thumb will I have this problem with all landlords and estate agents?

Is there I way round this? I cant move in with my parents not any space. I really dont want to put my partner on the renting agreement becasue he cant prove his income. I cant think of anyone to be a guarentor for me either- my parents are retired.

Any suggestions anyone?

dippy

A lot of estate agents in London use credit scoring agencies and they usually charge you for this too. You will be asked for your salary on the application form and the credit report may flag up the fact that you may not be able to afford the rents. I can't remember if my agent mentionned whether it was a multiple of 2 or 3 and if I had the option of stating alternative sources of income on the application form. However, it's up to the estate agent and landlord to decide whether to take you on. It's up to you to reassure them that you will receive help from your partner and let them know what's his monthly salary.

itgirlinuk

Will you not be able to get a private landlord? I rent from a private landlord (found him through the paper) and have done for the past 2 years and I think they are far more considerate than the agencies.

hm2be

Tanks for your advice but it was actually the private landlord that said about this rule of thumb and wouldnt take me on.

Is there anyway I can check the salary requirements for rent rates? WOuld it be wise to ask the estate agents about this in advance?

garysletters

there is no general rule, particularly if you find a landlord privately. However, most agencies (and some individual landlords) will do credit/reference checks to guage suitability. Although you may come up short, there is no RULE saying you cannot have the property, it is simply up to the landlord to either ignore this result or uphold it. most agents would dismiss you if it failed, but ask them to contact the landlord direct. you may find they are prepared to accept your "lower than ideal" income and take you on, rather than have a void period. (or offer a higher deposit if you can afford it......that would work with me!!!)

itgirlinuk

Won't you be able to rent a council-owned flat? It does not have to be within a coucil block, but council owns independent houses / flats in lot of areas and you might be able to rent one off them...

have you tried that?