If you are employed, you will need to show a total annual income of at least 30 times the monthly rent. For example if the monthly rent is £900 you need to earn £27,000, to pass. You will need to provide contact details at your place of work to enable your company to confirm your salary.
Self Employed Income: If you are self-employed for less than 1 year, you will need a Guarantor who will be required to pay for the tenancy in advance. If self-employed for more than 2 years you will need either an accountant to confirm your income (accountants reference) or complete an SA302 (Self Assessment) form.
Savings Income: We are able to take savings income into account. However you must have a saved amount that is equal to 36 times the monthly rent that has been in your account for at least 6 months. If you are unable to prove income then we may ask for advance payment of rent or a Guarantor. Your Guarantor will need to prove an income of 42 times the monthly rent. If your Guarantor is not UK based then they must be in full time employment.
"Douglas and Simmons have been very helpful to us; in our case we were buyers and they supported us for a good 3 months while solicitors sorted things out. They were always approachable and happy to talk to us and helped explain what solicitors were doing, which was very useful. They obviously work as a team and if we ever sell our lovely home we will definitely use them."