Can we reference two people on the same form?
Even if they are husband and wife, they will need to complete their own individual application form.
Why do we need proof of address/proof of residency?
Some applicants do not put all their addresses on the application form; this can in fact mask County Court Judgement’s or a poor credit history (detrimental information). We obtain proof of address (i.e. an original bill, bank statement or official letter), when they are not on the electoral roll at the address given. This enables us to credit check other addresses. Please note if the applicant has opted out on the electoral roll (i.e. ticked the box to confirm that they do not want to receive junk mail) we will require proof of residency.
I have sent an application via fax but cannot seem to locate it on your admin site?
Please ensure you have checked the rejected applications on the website before you call, this can sometimes also be due to missing the submission deadlines (full reference applications = a 24 hour submission – before 12pm and a 48 hour submission – before 3pm), if you have missed a submission deadline the application may not be logged onto the system until the following day.
Why not use our Remote Referencing service? Tenants can complete their own application forms online at their own convenience – Saving you time & resource. Registered agents receive standard remote referencing for FREE or you can choose a custom remote option which will give the look and feel of your own website!
What documentation does FCC Paragon require when referencing foreign nationals?
This depends on the applicant’s country of origin, please see below for a basic guide (these are guidelines only);
From the EU (including A8 & A2 countries) – Nothing is required, however we still advise you view and retain two forms of proof of identity (as with all applicants), one of which must be photographic and a passport is always prudent. Viewing a passport in the past has identified anomalies and prevented potential fraudulent applications.
Anywhere outside the EU – A work visa or work permit.
The above all need to be valid for the duration of the tenancy period. Please note: Legislation is reviewed quite frequently so the above is subject to change.
What if someone has lots of savings, but low or no regular income?
We do accept savings but only accept the most recent savings account bank statement so that we can view what the balance is. We will calculate the total rental amount (or their share of the rent) for the length of the tenancy period 6/12 months, then multiply that by 2, if the sum is less than the balance on the bank statement this would be acceptable.
If someone falls short of the rent by £50 per month, can they pay the shortfall in advance i.e. 6 x £50 for a 6 month tenancy?
But the agent must confirm in writing that this arrangement has been made to enable us to adjust the referencing application details to reflect the reduced rent. If a rent warranty is purchased it will only cover the approved rent i.e. additional rent paid upfront would not be covered.
Can we reference foreign/overseas guarantors?
We do reference them however there may be slight delays due to possible language barriers, also because of the difficulty and cost of enforcement proceedings abroad we would not be able to offer rent warranties.
How does the rent calculator work?
Unlike some other referencing agencies we do not work on a multiple of the rental amount. We like to look at each application individually in order to ensure a fair decision is made. The calculator deducts tax and NI from the applicant’s salary to leave us the net figure. It will then deduct approximate living expenses which we have formulated from our extensive dealings in the lettings market. Please be aware you will have access to the rent calculator on our agents’ admin site if you are registered with us.
Do guarantors have to own a property?
We reference guarantors based on financial income, references obtained and credit history.
Does the guarantor have to cover the full rental?
However you can have multiple guarantors covering a share of the rent on one property providing the full rental amount is covered, i.e. If the full rental amount is £500pcm you can have 2 x guarantors covering £250pcm each. The tenancy agreement must be one where they are all jointly and severally liable.
Why does proof of residency have to be an original document or be signed by me (the agent) before sending it to the referencing department to clarify that I (the agent) have viewed the original document?
In our experience copies are very open to falsification, we have experienced in the past good copies which have been manipulated to contain the information you require. In one particular instance a gas bill was obtained for a particular address where the original and copy had different names, it transpired that the prospective tenant had never lived there.
Do I still pay for the debt service if you are unsuccessful?
It is a commission on collection we only charge you when we have collected monies for you.
How much does the debt service cost?
We charge a commission on collection depending on the amount of the debt. Under £1,000 – 9% £1,000 – £2,499 7% £2,500 – £4,999 5% £5,000 or more 4.5%
What can we do if we do not have a present address for the debtor?
You can utilise our tracing service, which will attempt to obtain a current residing address for the debtor. This service is charged at £65+ VAT on a ‘No Trace, No fee’ basis.
Does a debt submission have to come from a FCC agent?
This service can be used by any Agent or Landlord
Do you just collect Rent Arrears or can you pursue for Dilapidations as well?
We can collect both Rent Arrears and Dilapidations as long as full details of these are made available to us.
Copyright FCC Paragon - All rights reserved. Company Registration No. 3176719. Company VAT No. 880 9883 64
We are authorised & regulated by the Financial Conduct Authority. Our Firm Reference No. is 304595. Our Consumer Credit Licence No. is 647394.
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