What can they do with a Payroll number

vapd

Hi,

I'm filling out a credit/referencing check form for a letting agent and I was wondering what the credit checking agency would do with the payroll number they want me to put on the form?

Trouble is that I am fairly sure that my full time employed income alone would fall below what the agency would consider a 'safe' let. Although as I've no partner, no debts, no kids, no car and no pets I've worked out the costs and I'll be left with about £40 a week after rent, council tax, electric, gas and water. So as far as I am concerned I'm safe but, like I said, I think I'll be refused. So I was planning on just exaggerating my income slightly to make sure I get accepted but then I see that they want my payroll number and I'm wondering if they will be able to find out my real income from my payroll number?

925dancer

The credit referencing agency I think will contact your employer to check your salary details are as stated, if they can't contact them they may ask you for payslips. Do not embellish the truth, it's fraudulent and you will likely get caught out.

You should ask the agency what the salary to rent ratio is with the referencing agency, it's usually 2.5 or 3 times salary to rent. By the sounds of it you are way off that. I understand it's a bit of an extreme ratio but if you can get a guarantor you may still be able to rent the property.

What about food? Travel expenses? TV License? Do you want internet at home? TV services you might want? Mobile phone bill?

Your £40 a week starts to look like it's got to stretch veeeeeery far.

vapd

925dancer wrote: »

The credit referencing agency I think will contact your employer to check your salary details are as stated, if they can't contact them they may ask you for payslips. Do not embellish the truth, it's fraudulent and you will likely get caught out.

You should ask the agency what the salary to rent ratio is with the referencing agency, it's usually 2.5 or 3 times salary to rent. By the sounds of it you are way off that. I understand it's a bit of an extreme ratio but if you can get a guarantor you may still be able to rent the property.

What about food? Travel expenses? TV License? Do you want internet at home? TV services you might want? Mobile phone bill?

Your £40 a week starts to look like it's got to stretch veeeeeery far.

Oh, the moneys okay, I am a cook and love to cook, I can feed myself for under £20 a week without a sweat. I walk to work, have not owned or watched a TV for 6 months and I forgot to say that my bills calculations include the line rental and adsl. I have spent £25 on my PAYG mobile in 6 months and do not have any contracts/hire purchase or anything like that to pay. And, I didnt want to say it as its supposed to be taxed, but I get an average of about £30 in tips a week and I buy and sell a little on ebay/amazon/play and make an average of about £45 a week on that. But its kind of hard saying that to a credit scoring agency.

As for a guarantor, I have no family and none of my friends is in a position to act as one.

And I've paid the letting agent a non refundable referencing fee of £210 plus VAT and a holding fee of £450 which they say they can keep if I back out or fail the credit check so if I dont get this flat that will hurt as my total savings are only £1050 (before the money I just gave them). I read the T&C before I gave them the money but I had not seen the form I had to fill out. So, with a perfect credit score (no CCJ's, a credit card paid off in full every month since I got it years ago and so on) I never thought I might come a cropper with the credit referencing thing.

Anyway, so they are allowed to phone up the company I work for, give my payroll number, and then just be told how much I earn? Is that what your saying?

925dancer

You really should have asked more questions before shelling out so much money when the possibility of you being turned down is quite high!

You have signed a referencing form giving the agency permission to contact the people on your form. They will ask your employer how much you earn, should the employer decline to answer the question they will ask you for proof of income in the form of pay slips and/or bank statements. There is no getting around lying about your income.

DVardysShadow

925dancer wrote: »

There is no getting around lying about your income.

If the OP claims a level of income which includes tips and ebay proceeds truthfully, then there is no lying involved even if the pay slips don't cover all of the income.

OP must be prepared to explain the discrepancy and not claim the income as coming exclusively from the employer.

vapd

925dancer wrote: »

You really should have asked more questions before shelling out so much money when the possibility of you being turned down is quite high!

You have signed a referencing form giving the agency permission to contact the people on your form. They will ask your employer how much you earn, should the employer decline to answer the question they will ask you for proof of income in the form of pay slips and/or bank statements. There is no getting around lying about your income.

I have not signed anything! I viewed the flat on Thursday and they gave me a printed copy of the T&C (not the credit/referencing form). I phoned them up on Monday and said I'd take it and they asked for the payment over the phone, which I provided. They then emailed me the form, and thats when I started to realise things could be going wrong!

925dancer

DVardysShadow wrote: »

If the OP claims a level of income which includes tips and ebay proceeds truthfully, then there is no lying involved even if the pay slips don't cover all of the income.

OP must be prepared to explain the discrepancy and not claim the income as coming exclusively from the employer.

That's fair enough but as he has no accounts and is not declaring that income to the Inland Revenue, the referencing agency will disregard it. When there is self-employed income they ask for accounts etc, it must a prove-able income.

925dancer

Just wanted to say OP, I'm not trying to rain on your parade, I would never pass these checks either and have had many tenants who have struggled with them too. I just want to warn you what you'll come up against. I've always had to rent privately.

It is often said passing a tenant referencing agency checks is harder than getting a mortgage!

vapd

Alright, I'll give up on the flat. I'll never get it. So, as I have not signed anything and the credit check could not have begun (all they know is my name and my mobile number) I must presume I can get most of the cash back. What do you think?

Really is a pain as I currently spend £35 a week on train fare to work and what with the walk to the station and at the other end it takes me almost 90mins each way a day. I was so looking forward to that flat, would have just been a 20min walk

vapd

After some considerable digging it seems that a payroll number is only issued by larger companies. Small ones like the one I work for do not bother. So thats cleared that up.

I also phoned the credit/ref check agency and pretended to be a landlord who might employ them. They told me a lot of stuff that will either enable me to get round it (with some suitable manipulation and calling in of favours) or just enforce my decision to just give up and try to get my money back.