References and Guarantors

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Your rental payment method (how and when you pay your rent during your tenancy) depends on you reaching an agreement with your Landlord about your financial risk and suitability.

To be able to pay your rent in monthly instalments on the 1st day of each calendar month, you would need to satisfy one of the three requirements below.

Full-Time Student

If you are a full-time student and can get a guarantor who resides in the UK mainland, then they would need to sign the guarantor form along with providing us with the information as outlined in the guarantors section below.

If you are a UK student, our landlords would require you to have a UK-based guarantor.

Full-Time Employment

You are able to pay monthly if you are employed full-time and your net income is 3 times the amount of the rent. This option is generally only available to professional tenants.

To prove that you meet this requirement, one of the following proofs is needed:

  • A reference from your employer stating your position, length of service and annual salary confirming that your income is at least 3 times the rental amount, or
  • A letter from an accountant confirming that the income is at least 3 times the rental amount, or
  • A copy of your employment contract which shows the same information would also be acceptable and we may be able to accept other types of proof in some circumstances, or
  • 6 month's worth of bank statements, so we can confirm that your income meets the requirement of 3 times the rental amount
  • Please ask us if you cannot provide any of the above proofs.

Please note that we may carry out a credit check in addition to the proof you provide and thus may need to ask you for further details if this is the case.

  • If you are not in full-time employment or your monthly income is lower than 3 times the amount of the rent we will require you to provide a guarantor (see below) and/or pay your rent in quarterly increments (every three months in advance).
  • If you or your guarantor are retired, we will require either of the following:
    • Proof of a pension through relevant paperwork from your pension provider and/or the DWP, showing that the income is at least 3 times the rental amount, or
    • Savings may be considered to add up to any difference if the income amount does not reach this threshold
      • This can be shown via bank statements, showing savings that have been held for a minimum of 30 days, and are instantly accessible (i.e. can't be held in stocks, shares or investments)

The Landlord's decision as to whether your financial situation is suitable is final.

Affordability Calculator

Applicant/Guarantor Average Minimum Salary

(Assuming basic level UK tax payer)

Your Share of

the Rent PCM

Pre Tax (Gross) After Tax (Net)
Per Year Per Month Per Year Per Month
£250 £9,100 £760 £9,020 £750
£300 £11,200 £930 £10,870 £900
£350 £13,600 £1,135 £12,630 £1,050
£400 £16,400 £1,370 £14,530 £1,200
£450 £19,000 £1,580 £16,300 £1,350
£500 £21,600 £1,800 £18,070 £1,500
£550 £24,200 £2,020 £19,840 £1,650
£600 £26,600 £2,220 £21,625 £1,800
£650 £29,300 £2,440 £23,460 £1,950
£700 £32,000 £2,670 £25,300 £2,100
£750 £34,500 £2,875 £27,000 £2,250
£800 £37,200 £3,100 £28,830 £2,400
£850 £39,900 £3,325 £30,670 £2,550
£900 £42,600 £3,550 £32,500 £2,700
£950 £45,100 £3,760 £34,200 £2,850
£1000 £47,800 £3,980 £36,000 £3,000

*Joint guarantors and savings can also be considered. Please see the section below regarding Guarantors

Overseas Students & Paying Quarterly

If you are a student from overseas (and cannot obtain a UK Guarantor), then we may need you to pay rent quarterly. The documentation we require for this would include one of the following:

  • Bank statements showing two things;
    • Proof that you hold an amount of at least 3 times the rental amount, with the money held in a personal account for a minimum of 30 days, and instantly accessible (i.e. can't be held in stocks, shares or investments)
    • Proof that these amounts are regularly deposited into your account
  • A scholarship, loan or grant letter, confirming that you will be provided with enough money to cover the duration of your tenancy and payments (please note this is also subject to the above '3 times' limit)

Paying in One Go

For making payments in one go, we simply require a bank statement showing that you hold enough money to cover the full rental amount, with the money being held in a personal account for a minimum of 30 days, and instantly accessible (i.e. can't be held in stocks, shares or investments).

Guarantors

A Guarantor is an additional party to the agreement made between the Landlord and Tenant. They 'guarantee' the financial obligations of the tenant under their agreement, entirely and for the duration of the Tenant's obligations. A Guarantor will be asked to sign a separate agreement with the Landlord (the Guarantor Agreement) and thus further referencing for the Guarantor is required. A Guarantor must reside within the UK mainland (purely for legal jurisdictional reasons) and all referencing highlighted above (bar the landlord reference), will be required for the Guarantor, along with a signed copy of the Guarantor Agreement which must be provided before the tenancy agreement can be signed by any applicants.

  • Please ask for a draft copy of the Tenancy Agreement should you wish to read this before agreeing!
  • Even if you are paying quarterly, we require all students to have a guarantor if they are able to get a UK guarantor!

The majority of our student tenants use Guarantors, as they do not have a fixed monthly income!

The application process for Guarantors is as follows:

  • The Guarantor would need to complete and return the Guarantor's Particulars Form that will be provided to you during the application process (copies can be requested and emailed to you).
  • They will need to provide us with photocopies of:
    • Their photo ID (Passport or Driver's License)
    • Proof of their UK address (e.g. a recent utility bill - gas, electricity, water, landline telephone, or a recent bank statement)
  • They will also need to provide proof that their monthly income is 3 times the amount of the monthly rent (e.g. a reference from their manager stating their position, length of service and annual salary, or a copy of their employment contract showing the same information - we may be able to accept other types of proof in some circumstances so please ask us if your prospective Guarantor cannot provide either a reference or a copy of their employment contract)
  • The form and corresponding proofs can be PDFs, photocopies, scans or even full photos (as long as the quality is enough to see all details).

The Landlord's decision as to whether your financial situation is suitable is final.

The Landlord's Decision

The Landlord's decision is final as to whether you or your Guarantor are financially suitable, and the Landlord reserves the right to reject any Guarantor's application or financial reference and no reason may be given. Any applicant should read through the Tenancy Agreement before applying, copies can be provided upon request.

All paperwork, payments and documents must be completed and provided to us within 10 days of the start of the application process. If there is any delay, the Landlord may decide to cancel the tenancy application and re-advertise the property.

The Landlord also reserves the right to reassess yours or your Guarantor's suitability at any time during the tenancy based on any information that comes to his attention (e.g. if you show that you are unable to keep up rental payments on your own or if your Guarantor is asked to pay your rent but they refuse or claim that they are unable to meet their obligations). Any reassessment of your financial suitability would result in quarterly rent becoming due immediately and a formal demand would be sent to you.