Putting your names together onto a bank account could be a risk as it will link you financially and 'could' affect your credit rating if one of you gets bad credit later during/after university unless you specifically write to creditors saying you are no longer together after university.
Current Account for a Student House
- Thread starter Gall1987
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Soldato
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Just read your assured shorthold tenancy agreement thoroughly and make sure it doesnt stipulate that you will be responsible for paying council tax.
This is highly unlikey if the only residents in the house are students. It mainly concerns houses of multiple occupancy (HMO's).
Would this still be the case if we opened a basic bank account, as I know you don't get credit scored to open one of these?
Soldato
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The companies providing the services - so Sky, Eon/Powergen or whatever - will be the ones doing the credit checking I would think.
I'm not sure how much of an issue this joint account/credit scoring thing is to be honest. You'll definitely be better off having a bank account and paying by direct debit rather than paying bills cash at the bank as you'll get discounts. Alternative is everyone just pays into your account, and you hold the risk if no one pays you and you don't pay the bills!
I'm not sure how much of an issue this joint account/credit scoring thing is to be honest. You'll definitely be better off having a bank account and paying by direct debit rather than paying bills cash at the bank as you'll get discounts. Alternative is everyone just pays into your account, and you hold the risk if no one pays you and you don't pay the bills!
I think we'll go with that option then of each setting up a direct debit and paying in to a separate account that's in one person's name. Seems the easiest and safest option.
Thanks for all the advice.
That is the safest way. The only hassle will be if somebody wants to setup a utility and they aren't the holder of the bank account paying. In which case normally you just need to put that person on the phone for a minute although surprisingly some companies do allow you to setup bills into somebody elses account
Glad I don't have the headache of all this again! Had O2 not allowing me to get their internet package without having my bank billing address as the address for installation, oh the joys!
If you go with the joint account option make sure people's personal accounts get automatically deducted £x and have it credited into the joint account otherwise you will be chasing people for money and it's a bloody quick way to fall out with house mates, trust me.
Ahhh student bills, those were the days!
£10 a week sounds about right.
Really, what you want to do is try and set at least two days a week where you all cook a meal together to save a few pennies. Try and do basic things like making sure you turn electricals of when you're not using them and try to delay using the central heating for as long as you possibly can in the winter.
I remember at some point my girlfriends gas bill come mid january for the 4 of them living in their house was almost £100 more than mine where there was us three lads living together. An extra £10 hoody will be cheaper than 2 months gas
If you or any of the others are on o2, check their broadband packages out. Bargain imho. And you don't need sky tbh. Get a decent freeview box. Watch footy down the pub and borrow DVD's from the copious amounts of friends you are likely to have (or just download shizzle).
If you've got a tubmle dryer, don't use it too much it rinses leccie. One of our housemate insisted on putting everything in the tumble dryer. Us other two used it literally only in the winter for things like underwear and towels/bed sheets. Hang your clothes up to dry. And switch that washing machine down to 30!
If you've got a shoddy boiler, put the hot water on a timer as with the heating.
Encourage eachother to work in the uni library where possible as well, it may be scraping the barrell, but if you're all sitting at home working in your rooms with pootas buzzing, music blaring and the kettle boiling you're racking up that leccie bill even further. At least in the library you're using the other leccie you're paying for already!
And shower don't bath. In our second year our bath eventually became a goldfish tank anyway, but showers will save you money. Bath's are just selfish towards one another.
If i can think of any more words of wisdom ill be sure to mention them
£10 a week sounds about right.
Really, what you want to do is try and set at least two days a week where you all cook a meal together to save a few pennies. Try and do basic things like making sure you turn electricals of when you're not using them and try to delay using the central heating for as long as you possibly can in the winter.
I remember at some point my girlfriends gas bill come mid january for the 4 of them living in their house was almost £100 more than mine where there was us three lads living together. An extra £10 hoody will be cheaper than 2 months gas
If you or any of the others are on o2, check their broadband packages out. Bargain imho. And you don't need sky tbh. Get a decent freeview box. Watch footy down the pub and borrow DVD's from the copious amounts of friends you are likely to have (or just download shizzle).
If you've got a tubmle dryer, don't use it too much it rinses leccie. One of our housemate insisted on putting everything in the tumble dryer. Us other two used it literally only in the winter for things like underwear and towels/bed sheets. Hang your clothes up to dry. And switch that washing machine down to 30!
If you've got a shoddy boiler, put the hot water on a timer as with the heating.
Encourage eachother to work in the uni library where possible as well, it may be scraping the barrell, but if you're all sitting at home working in your rooms with pootas buzzing, music blaring and the kettle boiling you're racking up that leccie bill even further. At least in the library you're using the other leccie you're paying for already!
And shower don't bath. In our second year our bath eventually became a goldfish tank anyway, but showers will save you money. Bath's are just selfish towards one another.
If i can think of any more words of wisdom ill be sure to mention them
lol, do they leave the gas cooker on 24/7 to heat the room? That is an awful lot.
If everyone living in the house is a full time student you will be exempt from council tax, all you need to do is go to student centre at uni and ask for a council tax exemption form (basically says when you start and finish uni), each individual needs to get their own. then just take it to the council and they'll give you a form to fill in, done.
I'm living in a student house of 4. We have an electric and gas meter so it costs more than a quartarly bill. We have computers on 24/7 and atleast 2 monitors each and don't worry too much about electricity. We're paying £20 per week between us for electricity and we use about £20 gas a month between us (everything but the shower is electric).
The best thing to do would be to take a decent sum of money from each person everytime you get paid by student finance, even if thats not the exact time you have to pay the bill.
The best thing to do would be to take a decent sum of money from each person everytime you get paid by student finance, even if thats not the exact time you have to pay the bill.