Do you use 30x Gross income or 30x take-home pay after taxes?

Do you use 30x Gross income or 30x take-home pay after taxes?

Dear Samii

Do you check Tenant affordability by asking them to provide you with six months’ payslips and six months bank statements? 

When you check affordability do you use 30x Gross income or 30x take-home pay after taxes?

Samii says

It depends on their status. We request 6 from self-employed but minimum of 3 as standard. On average people usually send over 4, as many banks will only do 3 months of print outs not 6 if visiting the branch.

We use 30x gross as standard but bring existing debt to your attention.

We are truly transparent in our referencing procedure and you can see all the information we gather. We offer an assessment as to whether tenants are eligible for insurance which is a good indicator of their suitability, however the decision on your applicant lies with yourself as it is your investment property and business model. We will work with you to assess the applicant and offer observations as they are made, so you are able to make an informed decision.

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Author: SamiiB-P

Senior PR Officer at TenantReferencingUK.com & Admin at NLCEuk.co.uk . Any queries email me at: samii.boydprice@nlceuk.co.uk / samii@landlordreferencing.co.uk or give me a call on: 0800 9994 994 (option 6).

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