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Renting cost

My wife and I have had our house we were buying fall through so now the only option is to rent.

We take home 3500 per month. If we rented somewhere for £1000 would you say that is a reasonable budget? Obviously other bills will be on top.

We have never rented before and having this house fall through has knocked us for 6 a bit. Is it easier to get approved for rent then it is a mortgage

Comments

  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Depends on your lifestyle, expectations and other commitments but probably. It's easy to get approved for a rental property if you have a good credit rating, have you checked your files with all three credit reference agencies for accuracy?
    http://www.moneysavingexpert.com/loans/credit-rating-credit-score
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • rvoice100 wrote: »
    My wife and I have had our house we were buying fall through so now the only option is to rent.

    We take home 3500 per month. If we rented somewhere for £1000 would you say that is a reasonable budget? Obviously other bills will be on top.

    We have never rented before and having this house fall through has knocked us for 6 a bit. Is it easier to get approved for rent then it is a mortgage

    Most of the year we take home 3500 a month and we rent at £750 a month. We save £1500 a month at least.

    In short - yes, your budget sounds very reasonable unless your lifestyle is rather extravagant.
    Savings Targets
    £30,000 by 31/8/2012 - currently 100%+
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