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Referencing Criteria and Documents required

We are frequently asked the referencing criteria to be able to rent one of our properties – this guide will provide an overview. This is not a comprehensive guide, but should be used as an indication.

All of our landlords take out an insurance product, which protects them against any non-payments of rent. The insurers criteria for passing the referencing changes frequently, so please contact us with specific queries.

Affordability

Tenants must have a form of income from any of the sources listed below (or a combination of the sources) that equals at least 1 x the yearly rent (eg – if the property you wish to rent is £800pcm you need to have a source of income of at least £800 x 12 = £9600.00)

Acceptable income sources:

Earned income from an employer (PAYE)

Self employed income – which must be verified via an accountant, bank statements or self assessment tax forms

Disability Benefits

Pensions

Savings (must be in an accessible account, and must have not been touched for at least 6 months)

Other forms of income such as maintenance payments, student loans, bursaries, commission, income from property etc are assessed on a case-by-case basis.

Please note Job seekers allowance and child benefit are not accepted as a form of income.

If the income as listed above is between 1 x the yearly rent and 2.5 x the yearly rent a guarantor must also be provided.

Credit rating

One declared CCJ under £300.00 – may be acceptable dependant on the rest of the referencing

2 CCJ’s totalling less than £5000.00 – may be acceptable with a guarantor dependant on the rest of the referencing.

3 or more CCJ’s – Decline

Non-Declared CCJ – Decline (so if you think you may have a CCJ please tick ‘yes’ during the application process to this question)

Declared Bankrupt or Declared IVA – may be acceptable with guarantor dependant on the rest of the referencing

Non-Declared Bankrupt or Non Declared IVA – Decline.

If you are unsure of your credit rating you can go online and use one of the companies who will do a search for you.

Guarantors

A Guarantor is always required if the applicants income is less than 2.5 x the yearly rent. The Guarantor must earn (from any of the incomes previously listed) at least 3 x the yearly rent (applicants are permitted to have more than one guarantor)

Guarantors must have NO adverse credit.

Previous Landlord Reference

Tenants must receive a suitable previous landlord reference (if you have rented previously). The reference must confirm you have always paid your rent in full and on time and that there is no reason for us not to consider renting a property to you.

Proof of Address – ALL Tenants and Guarantors must provide this

For your proof of address, the only documents we can accept are as follows (only one needs to be provided)

Photocard driving licence

Gas, Electric or Water bill (MUST be dated within the last 3 months)

Bank Statement (MUST be dated within the last 3 months)

Letter from your employer on headed paper, signed and dated, giving your name, job title and address. (offer of employment or pay slips not accepted)

TV Licence,( dated within the last 3 months)

Current mortgage statement (dated within the last 3 months.)

Sorry, but please do not ask us if we can accept any alternative documents, we cannot take a view on the documents we accept. ONLY the above documents will be accepted

Proof of right to rent - all Tenants must provide this.

If you have a European Passport we are able to accept this.

If you do not have this document, please refer to the government web site, and submit to us documents within this list:


https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/931769/Right_to_Rent_Checks_A_user_guide_for_tenants_and_landlords.pdf

 Payment

All tenants will be required to pay a deposit of between 4 and 5 weeks rent, plus one months rent up front on move in day. If a tenant has a pet then the rent will be increased by £20.00pcm (not all landlords will accept  a pet) On some occasions we may be able to accept a deposit replacement insurance - the insurance cost is a sum equivalent to 42% of one months rent. More details can be provided upon request. Due to insurance requirements, the deposit replacement insurance can only be taken out with the insurer we use. We cannot accept any type of bond for the deposit.

Signing Contracts and Producing ID

All tenants and guarantors must be available to come into or office in person to produce their ID and sign the relevant agreements or Deeds.

Debbie Jones CERTCIH FARLA

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