Frequently asked questions - check back as we'll be adding more soon
What is the income criteria to qualify for the scheme?
There is no defined criteria but you must be able to satisfy HomeNow affordability checks. This is where we look at your household income and monthly expenditure to help us understand what level of rent you can afford to pay each month.
What information will I need to provide?
As part of the process, we will require the following information from you:
· Your household income
· Proof of employment with historical payslips
· How your household income is split if you’re buying with a partner
· Number of dependants
· Your credit score (your permission is required for us to source this)
· Prior landlord references if applicable
· Details of your monthly expenditure, along with bank statements
How do you work out what I can afford to pay each month?
We will use a combination of your joint household income and your mnthly expenditure to determine what you cann afford to pay in rent. As a general rule, we would not allow the monthly rental payment to be more than 40% of your gross combined income.