The UK Coronvirus Job Retention Scheme temporarily subsidises your income while you are furloughed. As of today, the scheme is set to end 30 September 2021*. When that happens, your income may decrease significantly, and you may not be able to afford rent after that date.
During referencing, your income must meet affordability requirements throughout the entirety of the term. This is because our referencing partner checks that you can afford rent the entire time you live there, not just the first couple of months.
As a result, if you are furloughed through this scheme and your tenancy is set to end before 30 September 2021, you may need a guarantor or pay rent in advance to pass referencing.
*Last updated: 13 April 2021. The scheme end date is subject to change. Check with your local council for the most accurate information.