My prospective tenant has a mortgage on the house he lives in with his family. However, he wants to move area due to his son getting into a school near our property. Does this or how will it affect his credit check reference?
You need to look at income V rent mortgage and living expenses
Also bear in mind that if hes relying on rental income from his own property to afford yours, that this wont necessarily be consistent if he has voids or arrears from his own tenant.
Why would you want to help him game the system? If he’s that open about dishonesty, what sort of tenant will he be?
How will he pay for the mortgage and the rent and bills on two houses?
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I don’t understand the issue. I have two repayment mortgages, and I overpay to clear them faster. I’m fortunate that i have a consistent salary that allows me to do so. You just need to do the standard checks you would do to ensure he can afford the rent and bills given all of his existing outgoings (including his mortgage repayment).
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the issue is that you may be well off ,he may not be
No - too many variables. If you must then do what colin says and do finance balance.
In march it is likely that section 21 will no longer be an option to get people out and court lists are getting longer. So LL’s will get pickier and as usual tenants will suffer due to populist government measures.
Luckily we have fantastic leadership just now who really understand business end quote
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Once the child gets a place in that school he will ditch you, he is using/abusing the system to lie to the school about where he lives.
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