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Guarantor - bank details?


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I've had a read through the forum and I don't think this question has been asked yet.

 

I'm going to act as guarantor for my son who is renting a flat. The letting agent has asked for my salary and payroll number - that's OK with me. But they have also asked for my bank account number and sort code.

 

This doesn't sound right to me - are bank details normally required?

 

Thanks

 

Phil

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Just got some more info. The letting agency is Elite Residential in Shoreditch. The company who wants my bank details is Letsure whose website (eletsure dot com) proclaims they are an "online tenant assessment service".

 

Letsure's terms & conditions don't fill me with confidence, as they say they accept no liability for losses incurred by misuse of your personal info (account numbers etc) by unauthorised individuals.

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Is the company homelet? If so this is normal. I have just looked at their form and it appears to ask for bank details so all appears ok.

 

http://www.managemint.co.uk/_microsites/manage_mint/docs/pages/downloads/Agent_Guarantor.pdf

 

Letsure appear to be same group

 

Letsure Limited is a wholly owned subsidiary of the Barbon Insurance Group. Barbon is one of the UK’s leading names in property insurance, Barbon Insurance Group is made up of a number of individual brands including Cadogan Keelan Westall, Cadogan Hanover Park, Deacon, Farr, Keelan Westall, Zennor, Letsure and HomeLet.

 

Letsure has specialised in the residential letting insurance market providing tailored buildings and contents cover to both landlords and tenants as well as offering a range of protection policies to meet landlord’s needs. We are also a specialist supplier of tenant referencing to the lettings market and carry out over 60,000 tenant references every year. With over 15 years experience in the lettings market, you can rely on Letsure.

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A Guarantor should expect to be vetted more closely than T to ensure he has means to cover his/her liabilities. If you own a property, expect a LR search for confirmation and any charges registered.

Gs do not need to sign the Lease, only have opportunity to read it before signing a seperate Deed of Guarantee.

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