Joint income Erudio Student loan deferment

[Cakepop101]

Please can someone help! I am trying to find out how you put joint income onto a deferment form for student loans. Has anyone had any experience of this. My husband and I rent out a property and share the income. If I put down half of the rental income I come under the deferment threshold but if I need to put the full amount (which seems unfair as I do not get all the income to myself!) then this will mean I have to repay. Thanks.

I don't have a rental property, but had a similar experience, trying to evidence the level of financial support from my hubby.

Is the property you rent out jointly owned? If it was only in your husband's name, you could give Erudio evidence of that and it can't count towards your income.

But assuming it's jointly owned, I would give them your last 3 months' bank statements, showing the rent being credited, but also show any debits for expenses that can be offset (mortgage, insurance, etc). Black out all other transactions they don't need to see.

Make it clear that only half of the net income is yours, it would help to draw up a spreadsheet (showing the rent for each of the 3 months, less expenses, divided by 2) and include that. Might be an idea to provide evidence that the property is jointly owned too. I've also seen other posts where Erudio have requested a copy of the rental agreement, really don't see why it's necessary and probably a stalling tactic, but if you're ok with including it, it might help speed things up.

Hope this helps, good luck!

some good tips there - thanks very much!

Thought of another thing they might want - a signed statement from your husband, confirming the property is jointly owned, therefore half of the net income is his.

i finally have got deferred - well was told as much over the phone so will wait and see what happens next.

anyway my partner and i rent out a property (joint owners). i submitted my tax return for 2013-2014 (this shows my half of the rental income), rental agreement from 2010 and a recent letter from my tenant confirming the amount of rent each week.

they sent a letter to me last week saying there was insufficient evidence regarding this. i rang them up and asked what more did they need?.

the operator said that the rental agreement was too old and they needed something more recent like a letter from my tenant. i said that they should have that letter too as everything was sent by recorded delivery and also via email. she went and looked for it and lo and behold she found it soon after.

interestingly, they didn't ask for bank statements which i'm quite amazed at.

another thing is i put the total amount of rent in as the gross rental income as this still kept me under the threshold. however my accountant says i should have put the taxable income after expenses such as mortgage interest, rates etc. i guess erudio would need to clarify something like this.

finally, it has taken me 2 months to get deferred.

just to clarify, when i said that i put the total amount of rent in as the gross rental income - i meant my half of the total amount of rent.

Thanks jkay2014 good to hear that someone has actually managed it!

So anyone done this and had to send paperwork to erudio to prove expenses, as tenant contract or bank statements alone would not show taxable income? Reluctant to give all this info. Agent, mortgage company details etc. But have no tax return. Any advice?