shendao wrote:Hello. It's a inquiry regarding the income requirements - I currently earn £1500 from a salaried job - and i earn a further £530 from renting out a house, £430 of which comes from the council, and the remaining amount of £100 from the tenant as a topup, which puts me over the requirements per month, however, i receive the rental income at different times as it's every 28 days, my salaried job is at the end of every month.
For example, this month i received the council payment on the 28/07 - the topup on 31/07 and my salary on the 31/07 - i'm confused as to how i present the information as monthly when there's different pay days for each of the 3 payments, as sometimes i receive the rental income on the previous month on my statement.
Thank you for your time.
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I would calculate as follows, however bear in mind I am no expert - is just a matter ensuring the ECO understand everything.
I would not mention your salary in any great detail as paid on a monthly basis and would simply confirm the amount etc.
As for the rental income, to calculate to total amount of rent received for the last 6 month/26 weeks I would use the following calculation:
£530 x 7 = £3710
£3710 / 28 = £132.50 per week
£132.50 x 26 = £3445 TOTAL RENTAL INCOME RECEIVED IN 6 MONTHS PRIOR TO APPLICATION
£1500 x 6 = £9000 + £3445 = £12,445