PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Questions and massive WORRY about tenant referencing...

Options
24

Comments

  • Hi Jonny... thanks for your reply.


    I am not so worried about the income, exactly as you said, the temporary employment issue.


    Niether of us have an end date, it's just ongoing long term, my employer has agreed to state that I am employed for them long term and confirm my salary. Do you think this will be a problem?


    I suppose in any job, they can let you go.
  • dawyldthing
    dawyldthing Posts: 3,438 Forumite
    edited 9 December 2018 at 5:36PM
    Your council tax alone is £120 a month at least, then electric, gas, water rates, tv licence internet, tv packages, insurances etc. Might be a bit low.

    Plus like I’ve said on your other thread £1100 a month is really high rent in Leeds. I’m guessing it’s a new build or something. You’d be better looking outside Leeds where you’ll save a lot more than that, possibly maybe half it.its a crazy amount in rent. They would be doing you a favour if it doesn’t go through

    https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION%5E787&maxBedrooms=2&minBedrooms=2&maxPrice=700&radius=5.0&propertyTypes=flat&primaryDisplayPropertyType=flats&includeLetAgreed=false

    Over 500 less than £700 within 5 miles of Leeds.
    :T:T :beer: :beer::beer::beer: to the lil one :) :beer::beer::beer:
  • ognum
    ognum Posts: 4,879 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    As a LL I would be worried about your temporary employment, you income is fine if you had perminant employment.

    You could offer a guarantor, offer a few months rent in advance. It really depends on how many applicants there are.

    I have just advertised a two bedroom flat for a similar rent there are no shortage of applications so you would somehow have to make yourselves desirable for me to choose you.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    10,000 Posts Combo Breaker
    So you’ll be bringing in 23% of the household income but paying 36% of the rent? How did you come to that decision? How will bills be split?


    Your calculation is wrong. You're only looking at gross salary whereas you should be looking at net, and you're failing to take into account the OP's student loan. I suspect that when both of those are put into the calculation 36% won't be far off (just taking net salaries the figure is around 28%).
  • pleasedelete
    pleasedelete Posts: 2,291 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Sounds expensive, where is it?
    June challenge £100 a day £3161.63 plus £350 vouchers plus £108.37 food/shopping saving

    July challenge £50 a day. £ 1682.50/1550

    October challenge £100 a day. £385/£3100
  • agrinnall wrote: »
    Your calculation is wrong. You're only looking at gross salary whereas you should be looking at net, and you're failing to take into account the OP's student loan. I suspect that when both of those are put into the calculation 36% won't be far off (just taking net salaries the figure is around 28%).

    Yep, that's a fair point.

    I still suspect the OP is underestimating the bills though, and it seems the plan is to pay those 50/50, that should be proportional too imo.
  • Hi everyone,


    Thanks for your replies so far.


    That is my net salary, I have worked everything out. My net salary and student loan FOR NOW will cover the bills, however, as soon as I move to Leeds, I will be changing jobs to a job earning £20,000.


    However, I could not lie and state that on the tenant reference form, as that would of been untrue. I guessed it was better to state my actual job RIGHT NOW and my actual salary, even if not high, as combined with my partners, it is £52,000 a year we bring home, moving to £62,000 when I start my new job.


    The apartment is in Leeds city centre, for those asking, it's a new build and it is beautiful.


    My employer has contacted me stating that the tenant referencing company emailed her this afternoon and she confirmed that I am in long term permanent temporary employment, so hopefully this helps?


    Once my partners employment has been confirmed, which will be this evening, we should be good to go.


    Hopefully our salaries combined is enough for them and our employers positively confirming our roles will be sufficient.


    Thanks everyone.
  • ognum wrote: »
    As a LL I would be worried about your temporary employment, you income is fine if you had perminant employment.

    You could offer a guarantor, offer a few months rent in advance. It really depends on how many applicants there are.

    I have just advertised a two bedroom flat for a similar rent there are no shortage of applications so you would somehow have to make yourselves desirable for me to choose you.

    I've always found this a strange thing to be worried about. Really all employment can be temporary - I think it's more to do with the type of work. For example if you're in a niche job you might be more likely to struggle for work whereas if you work say in retail or hospitality it's easier to find work. Always strange how banks would rather lend much higher multiples to brain surgeons than middle management.
  • Hi everyone,

    So basically I passed the referencing stage (on £12,000 a year). However, my partner who is in temporary employment until the 2nd of January, he goes permanent then (he earns £40,000 a year), failed.

    He now needs a guarantor, so his Mother has agreed to do so. Unfortunately, she does not earn the amount they have requested, which is £40,000 a year. Therefore, even though the employer has confirmed he is going permanent in a few weeks, he still needs the guarantor.

    So, we have had to pay another £125.00 for them to process a guarantor fee.

    However, she works part time (as his Dad brings in most of the money), has worked at the same company for over 30 years, has a good amount of savings, is a homeowner and also they do own 19 houses which they rent out.

    As we have paid so much money towards the whole application fee, do you think she will be sufficient?

    I really didn't think I'd pass but hey ho!

    Any advice would be appreciated.

    Thank you in advance.
  • Hi everyone,

    So basically I passed the referencing stage (on £12,000 a year). However, my partner who is in temporary employment until the 2nd of January, he goes permanent then (he earns £40,000 a year), failed.

    He now needs a guarantor, so his Mother has agreed to do so. Unfortunately, she does not earn the amount they have requested, which is £40,000 a year. Therefore, even though the employer has confirmed he is going permanent in a few weeks, he still needs the guarantor.

    So, we have had to pay another £125.00 for them to process a guarantor fee.

    However, she works part time (as his Dad brings in most of the money), has worked at the same company for over 30 years, has a good amount of savings, is a homeowner and also they do own 19 houses which they rent out.

    As we have paid so much money towards the whole application fee, do you think she will be sufficient?

    I really didn't think I'd pass but hey ho!

    Any advice would be appreciated.

    Thank you in advance.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.