Asked by letting agents for 3 bank statements to show proof of income

JustBee

Would you give them redacted bank statements. Wage slips haven't been asked for. As long as they can see income and address on the statements, would that be unreasonable?

y3sitsm3

I don't see why your bank statements are all that personal unless you have something to hide.

Do you?

HampshireH

y3sitsm3 said:

I don't see why your bank statements are all that personal unless you have something to hide.

Do you?

Agree really there isn't anything on a bank statement that would need redacting unless something needs hiding 

Your details they will have anyway same with your address. It's quite common to provide proof of affordability in both rental and home ownership

Which bits would you be intending to redact?

Your outgoings are necessary as income is irrelevant if you are spending it all and can't afford to pay the bills

csgohan4

All EA may ask for bank statements to prove income coming in. Some even ask for  employer reference stating you earn that much as well.  

If you are not happy, your going to have to find an EA who doesn't require this and ergo a house they have that suits you

andy444

It's quite common for Estate Agents and Letting Agents to ask for bank statements for proof of income.

They don't particularly care what you spend your money on unless you spend beyond your means. As long as you don't want to hide any potential embarrassing purchases, I don't see why you would need to redact them and it might make the agents think you're trying to hide something.

theartfullodger

If you are unhappy, go to another lettings agent (who may also require them).

To be a lettings agent requires (England) no training, no qualifications, no criminal records check. 

The staff could be on early release from their sentences at Brixton prison for GBH and fraud.  What could possibly go wrong.

As it happens just asked for one (only) bank statement by selling estate agent for my late brother's house.  Supplied with large amounts (over £10k ), most names on transactions  and account number blurred.

No complaints from them 

TripleH

If you redact anything, maybe the bank account number and sort code rather than the transactions. Can't see them being needed as you can setup a payment with the bank details given by the Estate Agent.

They've for 3 to give a more accurate idea of your spending so they can see if you can afford the regular monthly payments and note the recurring payments going out your account (to give an idea of your regular monthly incomings and outgoings).

daveyjp

Agents around us advertise they will only consider tenants earning 20-40 times the monthly property rental.

If they ask this, they need proof.  Bank accounts are a way of proving this as some people don't get wage slips (which are easy to fake anyway).

JustBee

I felt like it was quite intrusive, there's nothing to hide but I don't know who works there and what they're like as the artfullodger says. Anyway, decided not to bother as the garage that was on their advert is suddenly not part of the rental. And the letting agent told me that I'd be dealing with the landlady on a day to day basis which makes me ask, so why am I dealing with you. Access to the garage means going through the gate to the back garden which is fine but I don't know if they're going to be round all the time when I'm not there. Not saying they would but I'd rather not wait till I move in to find out.

Good points taken from all of you. I've rented before and never been asked for bank statements so I was taken by surprise. Looks like they all have slightly different ways of doing things.

MaryNB

JustBee said:

Good points taken from all of you. I've rented before and never been asked for bank statements so I was taken by surprise. Looks like they all have slightly different ways of doing things.

I was asked for bank statements the last few times I rented. It was just to make sure my annual salary is 30x the monthly rent. It's quite common.

Slithery

JustBee said:

And the letting agent told me that I'd be dealing with the landlady on a day to day basis which makes me ask, so why am I dealing with you.

Plenty of landlords employ agents as a tenant find service only and then take care of the rest themselves. It's not unusual at all.