When you apply for a property through PropertyLoop, one of the key steps is proving that you can afford the rent. This is known as the affordability check, and it ensures that your rent payments are manageable alongside your regular income.
How Affordability Is Calculated
At PropertyLoop, affordability is assessed at 2.5 times the monthly rent (before tax).
For example, if the monthly rent is £1,200, your gross monthly income will need to be at least £3,000.
When you make an offer on a property, we’ll ask you about your income and employment so that this can be verified during the referencing process.
What If You Don’t Meet the Affordability Requirement?
Don’t worry—there are still options available if your income falls short of the 2.5x threshold. You may still be able to rent by either:
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Paying the full rent for the tenancy upfront
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Using a UK-based guarantor
Proving Income During Referencing
As part of the referencing process, there are a few checks you’ll need to go through. One of the key ones will be confirming your income and employment to prove affordability.
The referencing company may ask you to provide:
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Recent payslips (usually the last three)
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An employment reference from your employer confirming your job title, salary, and contract type
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If self-employed, your latest tax return (SA302) or accounts signed off by an accountant
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In some cases, bank statements showing regular income payments
Having these documents ready will make the process quicker and smoother once your offer has been accepted.