Pulling out after signing AST contract

[WorryingLandlord]

Hi, Any advice gratefully received. The tenant passed the reference check, paid a deposit and first month's rent and we signed the contract with move in date end of August. On closer inspection the tenant has not been able to provide proof of income as requested for the last year despite being asked several times for this. If I pull out and readvertise the property what's the worse thing that can happen to me? Kicking myself for not checking the documents more closely before signing the contract/AST

I don't think you can pull out. The contract has been signed and you should have run the necessary checks before doing so. Asking for proof of income isn't enough.

The tenant has the right to move in and live there for as long as the contract stipulates, providing they pay the rent.

I mean you could ask them if they agree to an early surrender and refund every penny they've paid (?) but I wouldn't agree to it personally and if they can't provide proof of income then I'm sure they won't.

Thanks 9amTrain that's what I was afraid of. Of course I would repay the deposit and first months rent. What a mess - I'd just rather pull out now and face whatever the consequences are than have someone move in and potentially not be able to pay the rent and then have to possibly go through the stress of evicting them. I'm just not clear on what the consequences would be for me if I did pull out? What's the worse thing that could happen? I have been so foolish.

Have a read of this it covers this issue:

www.landlordlawblog.co.uk/2011/08/18/can-a-landlord-refuse-to-let-after-contract-signed-and-rent-paid/