Self employed, rejected in tenant check PANICKING!

dalleDF

Hi all, hope someone can advise me. Due to a relationship breakdown I am trying to quickly find a new flat in a different city. Stressful time anyway and working on a short deadline, so I was delighted when I found a great flat. Jumped through many hoops in a very intrusive referencing process through the letting agent, only to be rejected. I am newly self employed with 9 months accounts (I don't have a tax return for this year yet). And they say my accountant (who verified my annual income of £50k+ using the referencing firms' own online forms) is not accredited! What does this even mean??

I have no debt, plenty of cash in my current account, clean credit record. I have given them proof of my earnings, six months bank statements, proof of rent payments for last six months, profit and loss accounts, previous landlord reference, evidence of savings, literally everything I can think of and it is a case of 'computer says no'. The affordability of the place I want to rent (£730 pcm and the same as my current rent) is £22k income. They say my affordability is zero.

I am so frustrated and angry about this, and feel totally powerless. I have offered to pay six months' rent upfront (or even 12 at a push), it's the only thing I can think of. Haven't heard back from the agent yet. I don't have anyone suitable to be a guarantor. Can anyone advise me on what to do? I am so stressed about this, I feel sick and trapped. Am I basically unable to rent until I file my next tax return?

glasgowdan

I think the offer of 6 months up front is likely to be a deal maker. Hopefully they'll get back to you asap.

Alternatively, go and look for flats from smaller independant agents who are likely to use common sense upon seeing a good amount of savings as a guarantee.

Hutch100uk

We had problems with our reference checks as my partner was on a temporary contract and only had 5 months left on it. We had to pay 6 months rent up front and it was left up to the landlord if she was happy with that, which she was. They should accept rent up front as it then means they don't have to worry about another tenant not paying.

franklee

When I had this issue I paid the first six months upfront but that was some years ago and things may be stricter now.

I find it's a large letting agent more likely to have a computer says no attitude and if you can talk to the landlord directly he/she may be more flexible. However it may be they have some rent guarantee insurance that required the boxes ticked. If so then I'd still hope cash upfront can get round it. Can you ask if the agent is checking this proposal with the landlord? It may be they are waiting for the landlord to reply.

dalleDF

Thanks all for your comments.
I only found out about being declined this evening so emailed the agent straight away asking for my proposal to be put to the landlady. Hopefully they will speak to her in the morning. I suppose if this falls through I will have to try and find a private landlord through Gumtree or Spareroom, so I can deal with them directly and explain my situation.
This issue about my accountant 'not being accredited', is this going to be a problem when I apply for a mortgage and I need them to verify my accounts?

Marktheshark

I bet the agents client does not know they are turning down rent up front.
Find the owner and have a word.

dalleDF

She has accepted six months upfront and then the same again in six months' time. Phew. Almost lost my sh*t there for a minute. Thankyou all for your kind replies.

dalleDF

P.s. Hilariously, the referencing agency which by rejecting me almost cost me the flat is now trying to flog me contents insurance for my upcoming move. The cheek!

pmlindyloo

here is a link about accountants:

http://www.local-accountants-uk.co.uk/articles/is-your-accountant-qualified.htm

You might want to do a bit of detective work to see what qualifications your accountant has.