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Tenant referencing criteria - Additional income

What is and isn't taken into account to finalise a reference report.

Updated over 2 years ago

For LegalforLandlords referencing affordability can be proven using one of the below methods.

Acceptable:

  • Tax Credits – Working Tax Credits & Child Tax Credits only subject to full award notice – we cannot accept the Childcare Element

  • Bursary & Stiped – (letter required stating dates and amounts)

  • Student Sponsorship – (letter required from local government or embassy confirming amount received)

  • Proof of savings – (recently dated statement, showing the last 30 days transaction, funds must have been in account for the last 30 days)

  • Employment and support allowance (ESA) – Letter or 3 months bank statement - Disability Living allowance (DSA) – letter or 3 months bank statement

  • Carers Allowance (CA) – letter or 3 months bank statement

  • Personal Independent Payment – letter or 3 months bank statement

  • Child maintenance – If supported by CSA – court order in place or 6 months bank statements

  • Pension – letter, P60 or 3 months recent bank statements

  • Pension Credit – This guarantees a minimum income to those of state pension age by topping up the weekly income to £182.60 for those who are single and £278.70 for couples. There is also a savings credit for those aged 65 and over.

  • Premium bonds – recently dated statement, showing the last 30 days transaction, funds must have been in the account for the last 30 days.

  • ISA – INSTANT ACCESS – recently dated statement, showing the last 30 days transaction, funds must have been in the account for the last 30 days

  • Statutory Maternity Pay – for new mothers, this is paid for the first six weeks at 90% of their average gross weekly earnings with no upper limit and – for the remaining 33 weeks – at the lower of either the standard rate of £156.66, or 90% of their average gross weekly earnings. This is one of a series of rights for new parents.

  • Maternity Allowance – This pays a standard weekly rate of £156.66 or 90% of your average gross weekly earnings, whichever is the smaller, to somebody who does not qualify for statutory maternity pay.

  • Personal Independent payment – letter or 3 months bank statements

  • Universal credit – basic universal credit portion only (standard allowance)

Unacceptable:

  • Child care element of tax credit

  • Loans

  • Stocks & Shares

  • ISA – where funds are not instantly accessible

  • Student loans

  • Child benefit

  • Housing benefit

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