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Thread: Bank statements?

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    Default Bank statements?

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    Last edited by MissKatie; 02-25-2012 at 04:55 PM.

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    Default Re: Bank statements?

    as a 'parting comment' let me reiterate a point which has been growing more important over the past couple of years. Leasing an apartment involves credit ... the same as buying a car with an auto loan or buying a home with a mortgage loan. The financial distress absorbed by lenders i.e. subprime mortgage defaults, 'subprime' auto loan defaults etc. has spawned new gov't regulations and new lender policies intended to minimize the lender's risk of future losses. Obviously one aspect is the ability of a would-be borrower ( and an apartment lease is essentially just one more form of loan ) to prove a verifiable source of income from which timely monthly payments can be made.

    As 'self-employed' persons, dancers have a much more difficult time meeting these new proof of verifiable income requirements than 'straight job' employees do. Legally speaking, in the USA at least, the only 100% acceptable verifiable source of income documents available to self-employed dancers are previous years' tax returns.

    Less acceptable, but still somewhat pursuasive, are transaction records from a dedicated 'business' bank account. Legally speaking, bank transaction records are less acceptable since they don't actually prove that deposited money really came from the claimed source of income.

    There is little if any reason to expect that this situation is likely to improve in the near future.

    This issue of verifiable income can often be sidestepped by simply eliminating the need for credit ... i.e. paying cash for 6 months worth of apartment lease payments up front.

    Obviously your proposed 'solution' gets around the issue of income verification via a very different method !!! However, leases are legal contracts ... thus your proposed 'solution' has a particular legal description, it's called 'fraud'.

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    Default Re: Bank statements?

    Thanks Melonie and i understand where you're coming from. However i do not have 6 months worth of rent and nor would they accept that here in UK. Actually i'm sure some private landlords would but the houses i am interested in are mainly through estate agents. i have no intention of getting a rental way above my head, nor of trying to get a mortgage or any other type of credit. I just want to live in a nice place of my choosing. Hence why i asked people to pm me if they feel uncomfortable posting here

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    Default Re: Bank statements?

    MissKatie,

    Is there any reason why you're dealing with agents instead of directly with landlords? Maybe you would have better luck dealing directly with the landlords.

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    Default Re: Bank statements?

    Doctored statements? If they go to check with the bank won't they find out? Then both you and your friend could be charged with fraud?

    There has to be other self employed people in England who need to rent. I don't know the answer for you but surely you are not the first one with this problem and there is some documentation you can provide. And yes, it'd seem to make sense to work directly with landlords.

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