Pre-Tenancy Financial Assessment
Boston Mayflower will be introducing mandatory Pre-Tenancy Financial Assessments from Monday 20th June 2016
* The assessment calculates your total income and deducts the essential costs to live in the property (eg rental charges, utilities, housekeeping costs) and demonstrates whether the property is affordable to you.
* This will be carried out when you have been shortlisted for a property.
* You will need to attend a pre-tenancy appointment and bring documented evidence of all your income whether that is from paid work or benefits.
o Wages pay slips - 2 if paid monthly / 3 if paid fortnightly / 5 if paid weekly
o Benefits - your most recent benefit award or entitlement letter
o Bank statements - last 2 months
* A soft credit search will also be carried out at the appointment to identify any outstanding debts, these will be included in the assessment calculation.
* If you will be claiming Housing Benefit or Universal Credit we will do a trial calculation to establish likely entitlement and this benefit can then be added in to the calculation.
* If you do not attend or provide all the information at the appointment you will be deemed to have "refused the property" and your application will be re-dated as per policy.
* If the assessment result is "unaffordable" the offer will be withdrawn by Boston Mayflower and will not be detrimental to your position on the waiting list.
* We will also assist and guide any applicant to improve their situation in readiness for future offers.