Comments on: I’m looking to rent a flat, how do bank references work?

By: Birdie2006

Birdie2006 — Fri, 03 Jul 2009 11:59:39 +0000

Doesn’t sound like a credit check, and a credit check would not count those anyway, it only looks into whether you have defaulted on payments over a long term (upwards of 6 months) or collected any CCJ’s.
The bank reference is normally a letter from the bank stating their opinion about whether you can cover the rent after taking in to account your other obligations. It’s not binding nor is it their official opinion but if the bank states that they ‘believe’ you will be able to meet the obligation of the rent then it’s normally good enough. The bank will review your accounts and generate a simple letter. I would be careful though, they charge for privilege of doing this.

By: Omstarts

Omstarts — Wed, 01 Jul 2009 18:16:46 +0000

It varies from agent to agent - some will be satisfied at seeing a recent bank statement while others (only for very expensive lets I understand) will demand a credit history check.

I think actually they may simply require the following details - account managers name, address of bank, bank account number and sort code - but even then, this is to merely verify you have a valid account, and you are who you say you are. It is to also make sure you have incoming amounts and you are not living on an overdraft.

Legally, simply giving your GF account is fine. But that does put the risk on your GF - you could simply arrange to pay your money into her account each month.

By: smallmidgetninja

smallmidgetninja — Sun, 28 Jun 2009 12:30:32 +0000

Its not a credit check they are doing, the landlord wants confirmation that you are working (steady income) and that your bank account is active and not constantly over drawn (so the rent will be paid).