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Affording rent
Comments
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between 900-950 so according to that ratio, I am 100-150 out.0
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Years ago when I worked at a tenant referencing agency it was policy to recomme
nd if the applicant had income 3 times the rental cost. However if an applicant did not have that we would still recommend if they could have a guarantor or pay 6 months in advance.
It was all about minimising risk - have you asked if a larger deposit would suffice? Particularly in London I would have thought there are lots of applicants who do not have guarantor or any previous renting info from this country.0 -
When you say larger deposit, how much larger would you suggest? For example, for 950, they want around 1200 at present.0
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6 months should just about do it. You have £5,000 in cash so should be able to meet that. If they won't take that then maybe your guarantor would like it as an insurance against you not paying so you could offer it to them and in the event of your default they can use that money instead of their own money to pay the rent. If you pay the rent on time and they can be removed as a guarantor then they can give it back to you.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0
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