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Estate Agent Wants Screen Shots of My Bank Account?

13

Comments

  • gettingtheresometime
    gettingtheresometime Posts: 6,911 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
    We told our son to say the bank of mum & dad held his deposit & were providing the mortgage when asked about deposits & mortgage.
  • steampowered
    steampowered Posts: 6,176 Forumite
    First Anniversary Name Dropper First Post
    Could you send just a screenshot of the balance, without showing the account number or sort code?

    You can use the "snipping tool" (search in the start menu) to do this very easily.
  • Scotbot
    Scotbot Posts: 1,442 Forumite
    First Anniversary First Post Name Dropper
    I printed out the balance, blacked out all the account details and scanned that.
  • kingstreet
    kingstreet Posts: 38,740 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Surrey_EA wrote: »
    It is entirely possible that the seller has asked the EA to verify the financial situation of the prospective purchaser!!

    I don't think it's a case of 'messing about' to take measures to ensure a prospective buyer has the financial ability to go ahead with the purchase. I would consider it part of the EAs role to make some sort of effort to confirm the financial position of a buyer.
    EA Act 1974 still applies, doesn't it?

    EA has to satisfy itself and can request what it deems appropriate to do that.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • JohnnyZee
    JohnnyZee Posts: 41 Forumite
    You can easily redact the confidential information from your PDF statements using readily available software (e.g. adobe acrobat).
  • cjmillsnun
    cjmillsnun Posts: 615 Forumite
    My reply would be "I'm sorry but I will not be sharing bank statements that contain confidential information with you. I am happy for my solicitor or mortgage broker to contact you in writing to confirm that they have seen proof of deposit funds."
    2.88 kWp System, SE Facing, 30 Degree Pitch, 12 x 240W Conergy Panels, Samil Solar River Inverter, Havant, Hampshire. Installed July 2012, acquired by me on purchase of house in August 2017
  • Car1980
    Car1980 Posts: 299 Forumite
    First Anniversary First Post Combo Breaker
    Why does the agent want to see proof of deposit? A mortgage decision in principle is more use. If a mortgage offer is going to fall through, the buyer not being able to pay the deposit is at the bottom of the list of likely reasons.
  • Mutton_Geoff
    Mutton_Geoff Posts: 3,817 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Car1980 wrote: »
    Why does the agent want to see proof of deposit?


    Because they are a shiny suited moron who makes the rules up as they go along and for today's amusement they thought they could salivate over someone else's earnings to see how they could have done if only they had paid attention at school.
    Signature on holiday for two weeks
  • eddddy
    eddddy Posts: 16,398 Forumite
    First Anniversary First Post Name Dropper
    The bottom line is that there are some weird people about, who make offers on properties because they are 'attention seeking', dreamers, deluded etc - and have no real prospect of buying the property.

    The EA wants to make sure that you are not one of those weird people. (Although some/many EAs also use this as a route into selling you financial services etc.)

    So find a balance/compromise that you and the EA are happy with.

    That might be showing them documents, but not letting them take copies, or it may be a letter from your solicitor etc.

    If you're too defensive - the EA might fear it's because you're one of the weird people.


    FWIW, I'm sure that many people could easily 'fake' a bank statement and a DIP letter etc. The process isn't foolproof - I guess it's just intended to deter most of the weird people from wasting people's time.
  • HouseBuyer77
    HouseBuyer77 Posts: 961 Forumite
    Combo Breaker First Anniversary
    Why does the agent want to see proof of deposit? A mortgage decision in principle is more use.

    Some lenders offer a decision in principle online where information is just taken as given (i.e. whatever you want to write into the form for income and outgoings). Even if you have to go in to a branch and see an advisor in person they may not ask for any proof of income before giving you a decision in principle. Even then if you do have the income to support the mortgage that's useless without having the deposit needed.

    Wanting a decision in principle and some proof of deposit (whether a statement or letter from solicitor/broker) is perfectly reasonable due diligence on the part of the vendor.
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