pugsy Posted November 30, 2007 Report Share Posted November 30, 2007 Hi guys. As I have to double check everything my agent does at the moment, how can I calculate the affordability of a rent at £475 for someone with a gross income of 15K. If you take into account council tax at about 80, plus electric, then they've got to live, so 15K just seems to little - but I'm not sure. Any opinions?? thanks all Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted November 30, 2007 Report Share Posted November 30, 2007 Hi Pugsy More important ...how much has he got on CC , loans, hp etc Spend £20 plus vat and get a proper picture! www.tenantref.co.uk Simon Link to comment Share on other sites More sharing options...
J4L Posted November 30, 2007 Report Share Posted November 30, 2007 £475 is just over a 1/3rd of income. Many many people live above this %age. They are working! But still take Simon's advice and THOROUGHLY check them out. Link to comment Share on other sites More sharing options...
pugsy Posted November 30, 2007 Author Report Share Posted November 30, 2007 .... don't... got the t-shirt already! He's Polish (that's a good sign isn't it - unless he's got 20 mates - Just kidding, I've got Polish relatives, very nice people, great Christmas Trout!), manager of a local Polish business, so I'm hopeful that he's not got the British disease of shop til you drop on the CC, but you never can tell. I wondered if it's worth even doing the check, but I found a tax calculator which shows that a 15K gross = £1003 net per month. So if that's accurate, then he's looking at £448 after rent and council tax. I dunno, maybe affordability is ok if he doesn't have debts - I might as well do the credit check to bare the bones. Thanks. Link to comment Share on other sites More sharing options...
GPEL Posted November 30, 2007 Report Share Posted November 30, 2007 Rule of thumb is for the applicant to have a verifable annual income of at least 2 and a half times the annual rent, with a guarantor if below that. £15k is OK as an income level based on gross basic pay. Link to comment Share on other sites More sharing options...
odecar Posted December 1, 2007 Report Share Posted December 1, 2007 .... don't... got the t-shirt already! He's Polish (that's a good sign isn't it - unless he's got 20 mates - Just kidding, I've got Polish relatives, very nice people, great Christmas Trout!), manager of a local Polish business, so I'm hopeful that he's not got the British disease of shop til you drop on the CC, but you never can tell. I wondered if it's worth even doing the check, but I found a tax calculator which shows that a 15K gross = £1003 net per month. So if that's accurate, then he's looking at £448 after rent and council tax. I dunno, maybe affordability is ok if he doesn't have debts - I might as well do the credit check to bare the bones. Thanks. Its Carp not trout you philistine and all for the Christmas Eve meal. Visit the business and see the way its run, if run well then likely to have same attitude to way house is kept. Doesn't seem like someone who would do a runner as he has a job and will be reasonably well known to rest of the Poles so is traceable. Link to comment Share on other sites More sharing options...
pugsy Posted December 1, 2007 Author Report Share Posted December 1, 2007 To all offended Carps out there, I apologise, you taste very nice.. much nicer than trout. How I could have made such a mistake is beyond... Thanks for the info on affordability, as long as no debts, sounds fine and I will check out the store when I'm home for Xmas. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.