TLDR: Applicant affordability depends on income evidence: salary must be 30x monthly rent, savings 36x, or 42x with a guarantor. Full-time employees provide 3 months of bank statements or open banking proof; self-employed provide 6 months, SA100 form, or accountant's letter. Employment references from company emails are required. Credit checks via Credit Safe are soft searches and do not affect credit scores.
Applicant Affordability
Depending on your organisation's affordability requirements will determine the income an applicant is required to evidence, and what evidence is required. The following default affordability requirements are:
- If paying from a salary, your applicant's annual salary is 30x the monthly rent.
- If paying from savings, your applicant's savings are 36x the monthly rent.
- If renting with a guarantor, your income/savings are 42x the monthly rent.
Income
All applicants will be required to provide 3 months of PDF bank statements or evidence of income via open banking if in full-time employment. If they have just started employment, we will ask for evidence of their employment contract.
Self-employed applicants will be asked to provide 6 months of PDF bank statements or evidence of income via open banking, and an SA100 form. We can also verify self-employment income via a letter from a chartered accountant directly from the accountant.
Income can be verified for UK and international applicants.
Income References
For applicants in full or part-time employment, we will also request a reference from their employer confirming employment. This reference must be received from a company email and detail the employee's name, role, salary, start date and contract type of the applicant.
Credit Check
As part of your check, we will conduct a credit check via Credit Safe and return any current or satisfied or discharged CCJs. Your applicant will see this listed on their credit history; this is a soft search and will not impact their credit score.