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Housing Association - affordability check

Loopy3585
Loopy3585 Posts: 2 Newbie
First Anniversary
in House buying, renting & selling
Hi

I’ve bid on a property via a council choice based lettings scheme and it says offer will be subject to affordability check. Does anyone know what this check entails?

If it helps the housing association is Thrive Homes, I’ve looked everywhere on net but can’t find what I’d need to produce or what checks they do.

Thanks in advance for any help

Comments

  • cattie
    cattie Posts: 8,841 Forumite
    Name Dropper First Anniversary First Post
    It would be an income & expenditure check to be sure you can manage the rent payments.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • Loopy3585
    Loopy3585 Posts: 2 Newbie
    First Anniversary
    Hi

    Thanks for your reply, so they’d need details of my wages and child benefit (don’t get any other tax credits benefits etc) and then information in regards to any debts I have?

    Thanks
  • HampshireH
    HampshireH Posts: 4,473 Forumite
    First Anniversary Name Dropper First Post
    Yes they would. Works to also rule out people who can afford alternative accommodation
  • [Deleted User]
    [Deleted User] Posts: 7,323 Forumite
    Name Dropper First Post First Anniversary
    Could you phone and ask tomorrow?
  • PersianCatLady
    PersianCatLady Posts: 622 Forumite
    Loopy3585 wrote: »
    Hi

    Thanks for your reply, so they’d need details of my wages and child benefit (don’t get any other tax credits benefits etc) and then information in regards to any debts I have?

    Thanks

    Do your wages and CB go into a bank account??

    If so, you could use a few months' bank statements as proof of these payments.
  • luvchocolate
    luvchocolate Posts: 3,254 Forumite
    First Anniversary Name Dropper First Post Home Insurance Hacker!
    When I was offered a housing association property I was asked for 3 months bank statements, I had been paying £450 a month in private rental so £320 in the new property was affordable.
  • macman
    macman Posts: 53,088 Forumite
    Name Dropper First Post First Anniversary
    Credit check?
    No free lunch, and no free laptop ;)
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