Affordability Calculator

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    Affordability Calculator

    Prior to incurring the cost of credit referencing, how can I find out the level of income required by tenants for a property costing £795 a month?

    Many thanks.

    #2
    Multiply by 30 to get the required annual salary.

    So in your case you are looking for someone that earns £24,000. (Rounding up)

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      #3
      It will depend on what other financial commitments they have so once you've got your required income figure you could ask to see 6 months bank and credit card statements

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        #4
        How much money do they have in the bank? - far more important.
        Someone who earns 60x£795=£48,000 x 10 years and has absolutely zero saved has a spending (or money requirement) problem and is a large risk.

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          #5
          Research by Shelter they would need to earn 27K for rent to be truly affordable

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            #6
            I use this https://www.premierredproperty.com/c...ty-calculator/ to find the amount of salary required.

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