Financial References Assured Tenancy

[loring]

I intend to move to an Assured Tenancy accommodation at the end of September. The new letting agent has had references from my 2 previous landlords and a personal reference as well. My previous landlords have confirmed that I left them with no arrears.the rent was always paid in full and on time etc.
The new landlord now wants a financial reference and has requested me to provide him with full copies of my last 3 bank statements showing all monies paid into and out of my account along with details of where monies came from and where payments went out to.
I feel this over intrusive and have offered to provide the summary sheets of my statements which show the total monies into and out of the account but he says he wants all the detail of the payments. I am not happy about having to do this although I have nothing to hide. I believe he is out of order Should I ask him to obtain a financial reference directly from my bank. I think it is an invasion of privacy, what if my bank statement showed payments to call girls and for renting adult movies, that would be none of his business.
I am not sure where I stand on this issue, can anyone offer any ideas on how to handle this.
Thanks
loring

[SXGuy]

Re: Financial References Assured Tenancy

personally i think the new landlord, is taking the P. He does not need to see payments in and out of your account. All he needs to know is if you can afford to pay the rent, in which case a 3 month bank statement, showing money in and money out would be enough.

When i rented, all that was needed was my last bank statement, and that statement, clearly showed i had around 8k in the bank (was saving for a mortgage a few years later) Thats all they needed, or cared about.

Infact, if you are employed or self employed, proof of income should really be all you need.

Its not their right to know where your money goes (i dont think) all they should know is how much you have coming in, does it cover the rent? if yes, then thats all thats needed.

Perhaps a call to CAB is needed?

[loring]

Re: Financial References Assured Tenancy

Thanks for the responses SX and Flowerpower.
The assured lease is with a private company for a retirement flat and the lease is for the property to be rented to me for my lifetime. I am retired and have a State Pension and 2 Private pensions my income is approx £2k per month and the rent is £800 per month. I agree that it should be sufficient to give them the summary sheets from my last 3 bank statements which would show them the monies going into my account each month.

[kilasuit]

Re: Financial References Assured Tenancy

i'd send them only the summary sheets tbh

even then i feel that is taking the proverbial a little.

Either that or send them details of your pensions that should halt further questions

[SXGuy]

Re: Financial References Assured Tenancy

yes def, proof of your state and any private pensions should be more than enough.

No doubt you receive letters each tax year end showing your entitlement, that should be all they need to prove your income.

Plus if its 2k per month, then thats 24k a year, in which case your taxed on that correct? and would mean that you complete a tax return each year dont you? well in that case, HMRC letter headed SA303 or Tax calculation statement is ALL the proof you should need to show your income. They cant deny what you declare.

If they dont accept that, by all means show them your bank statement summary, but i would not be happy showing them my ins and outs.

Remind them that so long as your income exceeds the rent, what you do with your money is your business.