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  • Buy-to-Let

    Bank statement not matching tenant address

    My prospective tenant's bank statement does not match his address.

    I have queried this and she has said she has her mail sent to family friends because it's safer.

    Should i be concerned or am I being too pedantic?

    I have asked her for a current credit check

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    Could be innocent or she may be trying to run multiple identities, leave bad credit on her name at one address and have good credit on her name at another address. (Never really works)

    You should not ask the tenant for a Credit Check, you should be conducting your own credit check. They could easily be faked and no way for you to verify.

    You would use both addresses in the Address History when conducting own credit check to ensure that you have both matches.

    If she was applying for a mortgage, you would typically now ask for additional proof of residency documents. Such as utility bills or council tax.

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    _________________________________________________________________________


    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

    _________________________________________________________________________


    Do you have a link or know a website where I could use, to obtain tenant's credit check?
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    Property Investor from Surrey

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    _________________________________________________________________________


    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

    _________________________________________________________________________


    Very suspicious imho.  The address the bank holds for you has to match the address the card is registered to for security purposes.

    Good advice from Adam.

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    Is this the same tenant asking you to pay rent once moved in?

    I would say that to keep your property secure - if any doubt - don't accept them. 

    If I was in your position I'd avoid this tenant. Reason might be genuine but I wouldn't want to take a risk which to me seems high. 


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    Saagar

    Disclaimer: I have no legal expertise nor am I a qualified advisor on any subject. A humble landlord using an open forum to exchange ideas and experiences. 

    DO NOT GO ANY FURTHER WITH THIS APPLICANT.

    DEFINITELY REJECT THEM!!!

    There are waaaaay too many red flags. You'll come to regret it. If you're desperate to get a tenant secured to start generating income and you're struggling to find your own then just pay a good local estate agent and use their "Tenant Find" service. It has a cost you'll incur but much better than the person you've found. 

    Word of advice: don't rush to get a tenant to avoid vacant period. An extra few weeks of empty property will be much cheaper than a bad tenant not paying you rent for several months.
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    Saagar

    Disclaimer: I have no legal expertise nor am I a qualified advisor on any subject. A humble landlord using an open forum to exchange ideas and experiences. 

    Don't walk away from this tenant..........RUN !
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    Everything you've been asking about this Tenant is showing Red flag after Red flag.

    When people ask why Landlords should use a professional Letting agent and or professional Tenant Referencing company you're now seeing the evidence as to why. It's a small price to pay for the right help and guidance and to keep your investment safe.

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