I have savings of 4800 pounds and my pension draw down has been paid into it. It should have been 8800 pounds but it is now reduced to 7300 pound because it has been taxed. So now I am finding it difficult to get through. I am on universal credit
The referencing looks at your bank account over the last 12 months to identify regular income payments in to your account. This can be a salary from income as well as benefit payments. Savings are not an indicator for affordability. I guess because savings can easily be spent.
Best!
1 Like
@Cassandra5 may help if you can offer a guarantor (they would need to be able to afford).
Good luck
Thank you. I had a temp job from sept 25 to mar 26 and I have drawn down on my pension. I managed to put it through but just waiting for the landlord to view it. I hope it goes well. Do not have a guarantor. Wish me well. Thank you all for responding to my query
1 Like