We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Sold house, need to rent, can’t give agents reference as self employed
grimboyd
Posts: 19 Forumite
Sold house, need to rent, can’t give agents reference as self employed
My girlfriend and I have just sold our house in West London for £800,000 with no mortgage or debt and the Estate agent/Solicitor reckons on 8 weeks to completion and we don’t intend to buy again (for at least 6 months anyway), so that takes us to renting
I’ve noted on this site that agents do reference checks. I am self-employed (IT Contractor) with no CCJs etc, obviously with the above money invested this will bring in a substantial monthly income, so my question is, will this alone be enough to satisfy letting agents as I cannot supply work or previous renting references
My girlfriend and I have just sold our house in West London for £800,000 with no mortgage or debt and the Estate agent/Solicitor reckons on 8 weeks to completion and we don’t intend to buy again (for at least 6 months anyway), so that takes us to renting
I’ve noted on this site that agents do reference checks. I am self-employed (IT Contractor) with no CCJs etc, obviously with the above money invested this will bring in a substantial monthly income, so my question is, will this alone be enough to satisfy letting agents as I cannot supply work or previous renting references
0
Comments
-
Offer to pay the rent up front. That tends to bypass any ridiculous 'computer says no' situations. As long as you pass the other checks, I'm sur ethey will be fine.Everything that is supposed to be in heaven is already here on earth.
0 -
In a similar situation, with nowhere near as much capital, but still enough for the interest to cover the rent, we offered to pay 6 months up front.
The LA's rules couldn't allow for this so we had to get a guarantor as I couldn't produce an employers reference. Even the LA said it was silly, but 'rules were rules'.
I suspect you might find yourself in the same situation, but rules with differnt LA's will vary.0 -
Oh, you can provide an accountant's reference instead of an employer's reference anyhow.Everything that is supposed to be in heaven is already here on earth.
0 -
I was in that position. But relocated/no job. No references. And also no guarantor possible (I don't know anybody who would meet their criteria).
Agent said they'd ask the owner if they'd accept 6 months' rent up front and they said yes.
If they'd said No, I don't know what I would have done as I wouldn't have been able to get a guarantor closer than 200 miles and it would have taken me 2-3 weeks to find somebody for that.
The system is flawed.0 -
I had the same experience. I sold a property and now pay rent every six months in advance.
Any letting agent/landlord should be happy to accept your rent in advance without a work reference. If you can supply a personal reference from a friend, who can confirm you are a responsible person in your private life, that should help.I love finding more ways of making money that cost me little or nothing0 -
Thanks all for advise0
-
My OH was an IT contractor and we got a personal reference from a professional long term friend and our accountant to prove our earning capacity.An average day in my life:hello: :eek::mad: :coffee::coffee::coffee::T
:rotfl: :rotfl: 
:eek::mad: :beer:
I am no expert in property but have lived in many types of homes, in many locations and can only talk from experience.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards