Estate Agent Refusing to allow us to view a property

AdrianC

youth_leader said:

I got turned down by the rental agency for a flat because of the formula they used for my 'income', I think the max I could have afforded according to them was £750 per month.  I did have three figures in my savings but they weren't interested. 

...three figure savings...?

You mean less than a grand, or about a month's rent?

[Deleted User]

AdrianC said:

youth_leader said:

I got turned down by the rental agency for a flat because of the formula they used for my 'income', I think the max I could have afforded according to them was £750 per month.  I did have three figures in my savings but they weren't interested. 

...three figure savings...?

You mean less than a grand, or about a month's rent?

Or £5.32?

GeordieGeorge

suetonius said:

I understand that, but it is uncomfortable to be discriminated against by someone who has no idea about us. The characteristics required by the LL don't really mean that the chosen tenant will be any more upstanding than we would be. 

I’d likely do the same as the landlord. Someone without a decent wage but with huge cash savings seems more likely than I’d like to be in the sort of business that I don’t want being run from my property.

While there are others who meet the salary requirements they’ll get first place in the queue.

GeordieGeorge

youth_leader said:

I got turned down by the rental agency for a flat because of the formula they used for my 'income', I think the max I could have afforded according to them was £750 per month.  I did have three figures in my savings but they weren't interested. 

So at most you have savings of about five weeks rent?

FTB_Help

suetonius said:

Next excuse was that the landlord wanted a working professional. We are professionals but are taking a year off work, but she insisted that they wanted someone currently working.

As above you don't meet their criteria.

You're not working

lookstraightahead

Go and get a mortgage instead if you are so financially sound 

moneysavingchump

There is this girl at work that i would love to marry and have children with. She only likes guys with money, good looks and muscles. I'd make just as good a dad as those guys would and i have friends who could vouch for that. Does this change her requirements for a partner? No. I could try and keep pointing out my positives to her but all it would get me is a restraining order.

Life aint fair. Sometimes what you want and what someone else want dont match up and you just gotta accept that and move on.

fred246

You can just imagine it. The banker will run out of money and expect a government bailout. The lawyer would find some technicality to avoid an eviction and charge the landlord some crazy legal fees for trying.

Slithery

suetonius said:

Asked lots of questions and told that as we couldn't prove an income of x30 the rent, then we wouldn't be allowed to view it.

Perfectly normal. The vast majority of LL's and agents use this formula to assess your affordability.

suetonius said:
Next excuse was that the landlord wanted a working professional. We are professionals but are taking a year off work, but she insisted that they wanted someone currently working. If it helps, one is a lawyer and the other a banker.

It's not an excuse. LL's can choose whatever criteria they wish to vet tenants as long as it's not a legally protected characteristic (surely the lawyer among you knows this).

suetonius said:

The estate agent won't even let us view it, as she insists there are over twenty other more suitable candidates for the flat.

That's the LL's perogative and perfectly legal.

suetonius said:

Is there any way around this? My money is just as good as theirs. I could even provide references from work etc. 

No, there isn't. Your money is nowhere near as good as the other applicants because you only have a limited amount of it instead of a constant supply. The LL isn't only looking to see if you can afford 6/12 months worth of rent, they are looking to see if you have a reliable income for the lifetime of the tenancy which could easily be 10+ years. What happens when your money runs out and you have no income? The LL would still need to take you to court to evict which could take up to a couple of years in the current situation. Surely you can see that a tenant with a salary is much more attractive than you are.

anselld

It boils down to the fact that agents use referencing companies who have a rigid tick-box system and when it comes to affordability they requires 30x monthly rent as a joint income.   They also require current employment references.  

Savings don't count for the referencing Company and they are of no benefit to the agent so as far as the agent is concerned it is nothing personal, it is not discrimination, you are just wasting their time.
You would be better trying OpenRent listings where Landlords are usually in direct control and some (not all) may find the notion of savings and/or rent up front attractive or at least mitigating.