I am looking to move into a new flat in UK. Can I look for any flat I can pay for or should I look only for flat rentals less or equal to three times my monthly wages? I know some agencies ask for such cover in other countries but is it so in London too...?
Thanks!
2006-10-20 15:34:22 · 2 answers · asked by yipiha 1 in Business & Finance ➔ Renting & Real Estate
In the USA rents that the Government subsidizes or pays for ....they expect the person to pay 30% of their gross adjusted monthly income. The adjustments include credits for disabled people, children and the elderly then whatever income for the month is left you multiply by 12. That is the Gross adjusted yearly income and divide that by 12 . That is the adjusted monthly income and multiply that by .30% and that is the amount the tenant had to pay for rent. The rest is paid by the government.
2006-10-20 15:41:27 · answer #1 · answered by MISS-MARY 6 · 0⤊ 0⤋
I don't think, you would want a flat that has monthly rent that is equal to three, two, or even a full month's wages, because you wouldn't be able to afford it.
2006-10-20 15:46:40 · answer #2 · answered by JSalakar 5 · 0⤊ 0⤋