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Affordability checks for renters paying out of capital/investments
I want to rent a house inbetween selling and buying but because my money is in investments and not income I am having a lot of trouble passing the affordability checks. The agents seem to use automated tools like Canopy which don't seem to understand things like investments held with professional wealth managers. Even if one has savings Canopy will only accept them if the money has been in the same account for >3 months. So money from my house sale won't count. Result is you can be sitting with hundreds of thousands in capital and unable to rent a place for 6-12 months! What on earth do people do? I offered to pay upfront but the agents still make me go through Canopy which rejects me.
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