Letting guarantor

westlyn

Posted in seeming the wrong forum so reposted here on the advice of a forum member.

My son is a student wanting to let a 2 bed flat with an employed co-tenant. The letting agency want a Guarantor.
OK so far, but I am *very* concerned about the amount and type of information that I am being asked to provide: So far I have sent a photocopy of my passport and completed a guarantor form that requests: my name, address, date of birth, national insurance number, gross salary, phone number, email address. In addition I have been asked to provide my employment details, a character reference, bank details including account code, sort code and bank address.
Even that is not sufficient: today they came back and asked for proof of my address and a copy of my last bank statement.

Does this amount of information seem excessive and even legal under Data protection law? What is reasonable for them to expect me to provide.

Right now I feel I have already provided enough personal info to allow a disreputable person/agent to either create a credit card, purchase stuff over the internet if not even to persuade my bank that they are "me" to do what ever they liked.

I don't want to prevent my son getting his let but is there any guidance on what I should reasonably be expected to provide as a guarantor?

I really feel like I'm going to have to open a new bank account and close the one that I provided details to the letting agency......

anselld

You effectively give out bank account, sort code and bank address every time you make any transaction. You should be more worried about your actual liabilities as a guarantor, probably for both your son and his flat mate.

westlyn

anselld wrote: »

You effectively give out bank account, sort code and bank address every time you make any transaction. You should be more worried about your actual liabilities as a guarantor, probably for both your son and his flat mate.

But i don't normally provide all the other info such as address, NI number etc too. Some of what was requested is fine but taken in combination is over the top surely.

And yes I am worried about my liabilities re being a guarantor too.

theartfullodger

westlyn wrote: »

.... ....So far I have sent a photocopy of my passport and completed a guarantor form that requests: my name, address, date of birth, national insurance number, gross salary, phone number, email address. In addition I have been asked to provide my employment details, a character reference, bank details including account code, sort code and bank address.
Even that is not sufficient: today they came back and asked for proof of my address and a copy of my last bank statement..........

Excessive ?? Yes & No. I take it you agreed to be credit checked?? What the agent/landlord is doing is ensuring he has sufficient info on you so that, should you/little-Johnny inexplicably fail to pay the rent he can more easily track you down & recover the funds through the courts: Employment details so they can use "attachment of earnings". And checked it really was you applying to be guarantor.

Spotting the difference between that & a dodgy cowboy cheating thief is difficult:

I've had attempts by tenants (or close friends of tenants..) to "identity theft" me as landlord - catalogue accounts: They know my name, bank account details, address, probably birthday I might have mentioned etc etc..

You do not have to agree to be guarantor: Landlord/agent does not have to rent to little Johnny.

There are risks in life: Nothing is 100% safe, not even gold bars under the bed.

Is agent a member of, say, ARLA??

Cautious_Optimist

I've been asked to act as guarantor before and yes, I was asked to provide all that information. It did seem a lot and I decided not to agree.
But it did make me think that if ever I wanted to become a LL, I would choose that letting agent, as they were so thorough...

Another agent asked me to provide a reference for someone and they didn't do anything to check I was actually a real person - they were happy with just an email reply....

Would be interesting to know the difference in fees charged....

Pixie5740

Out of curiosity does the other tenant have to provide a guarantor? What happens if they lose their job? You could be the one that ends up holding the baby.

Cautious_Optimist

Just to add;
I actually trusted that agent in question, because they were a well established, reputable estate agents, who also did lettings.

What made me nervous, was the agents passing all that on to the LL.
I didn't know the LL and he didn't seem keen to engage with me.
Anyone can become a LL, they are not professional people.
In fact, some private LLs are dodgy characters, who perhaps can't get a professional job, perhaps because they have a criminal record?
I certainly wouldn't trust them in the same way I would trust my bank etc.

theartfullodger

Just remember anyone can become a letting agent: No qualifications are needed, no training, no oversight, no membership of any trade body, no criminal records check... Bonkers!

The agent is just that - the agent of the landlord, and the landlord is entitled to everything (he'd be the one suing you..). Many agents claim they can't pass info on to landlords due to "Data Protection mate": They are wrong.

Cheers!

Cautious_Optimist

The riskiest letting agents are often the new small ones.
A well established estate agent (20-30years trading) with multiple high street branches are a safer bet. Not always better service, but safer.

Pixie5740

Cautious_Optimist wrote: »

The riskiest letting agents are often the new small ones.
A well established estate agent (20-30years trading) with multiple high street branches are a safer bet. Not always better service, but safer.

Where do you get this nonsense from?

Cautious_Optimist

Pixie5740 wrote: »

Where do you get this nonsense from?

What nonsense?
You mean trusting a well established business over one that has just popped up in a side street?

Personal experience.