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Can I still get a decent flat if I don't meet Affordability Calculation?


Zookmaster
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My new jobs a zero hours job. I looked at my schedule and I've got several weeks full and a couple weeks with a few days. I also work a second job which is guaranteed at another 2 or 3 days.

In the interview it's normally 40 hours per week. In about 14 months I'm thinking of renting a flat for maybe £900 a month/anthing under is usually a tiny bedsit) with my monthly earnings about £1600-£1800. I hear the landlords do a affordabiity check, but are they all as strict as this? If I can afford the rent I should be given a chance.

I don't want share as I really like my own space. My credit is most likely good as I've paid of a 5 year car finance loan and have no debt. I really need to move out my parents house it's causing me real issues as I'm getting getting older now and just want the chance to rent.
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24 minutes ago, Zookmaster said:

I hear the landlords do a affordabiity check, but are they all as strict as this?

No, I don't believe so but it will depend on a few things around their approach. It's never as strict as a mortgage affordability check in my limited experience and as long as you show you can maintain a quality of life and good cash flow mangent you'll likely be fine. 

My agents run a affordability & credit checks IIRC (it's been a while) on tenants as it reduces the risk of taking someone on who is likely to default which result in lost income and costs. 

40 minutes ago, Zookmaster said:

If I can afford the rent I should be given a chance.


Not directed at you specifically but this is a little too simplistic. Some people can afford the rent but don't factor in for everything, and by that I mean anything, else. This leads to two situations, both shit ones, where the rent comes second and it causes the landlord an issue or the rent comes first and you get a shit quality of life. 

While most people are sensible and plan around also living a life some don't and wind up too short or having a really crappy time of it. I don't really want to see anyone doing either of these, and sadly this minority make it difficult for the genuine people who are aware of how thin they may be spread in spells and how to manage it. 

This isn't a class thing, it's a risk across the board and I've seen it a lot through work at one time with overpriced apartments targeted at middle class occupants, but it does have a much harder impact on lower income households where there is less space to downsize 'quality of life'. 

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11 hours ago, Tommy! said:

Not directed at you specifically but this is a little too simplistic. Some people can afford the rent but don't factor in for everything, and by that I mean anything, else. This leads to two situations, both shit ones, where the rent comes second and it causes the landlord an issue or the rent comes first and you get a shit quality of life. 

Yeah, been through this with my dopey brother. Was desperate to move out, found a flat he could afford the rent on while affording to eat, spunked his savings on furniture and despite all my warnings about the costs of utilities, rates, transport, etc, he carried on anyway. Ended up borrowing money and had to move back in with parents who bailed him out of debt.

What's worse than living with Mam? Living with Mam and having no money because you owe her ten grand!

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6 hours ago, Zookmaster said:

Im not much of a spender so think I could do it if they consider me.

If you haven't prepared a well thought out budget and allowed for gas, water, electricity, food, social interaction & entertainment along side all transportation costs and insurances you plan on having or maintaining I'd advise doing so.

 

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