Redacting personal information on bank statements

[Mylifenotscrutiny]

So, have been told we have to submit bank statements to LA (assessment for housing reasons)
They said need to see the income-fair enough so I sent them in but redacted every other transaction. They can see all the income but have said they want them sent without blacked areas ? Can they do this ?
If they can see the income why does it matter ?

Because they'll be checking there's nothing that would suggest the rent isn't affordable, like a gambling addiction or high debt payments

Well I’ve been paying it for 15 years ! So they must know it’s affordable

I asked was this a nee thing they said they needed to know up to date income details ?

*new

What @StylishMummy said. It doesn't matter that you've paid it for 15 years they still need to check your application the way they would anybody else's. Of course they need to see all your transactions! Is there something you don't want them to see?

For example, you could have your rent funded by a family member. But that wouldn't count as an income as it could change any minute. They can't just accept "she's paid for 15 years" as proof of affordability.

@JamesMiddletonsMarshmallows

What *@StylishMummy* said. It doesn't matter that you've paid it for 15 years they still need to check your application the way they would anybody else's. Of course they need to see all your transactions! Is there something you don't want them to see?

I’m unsure why though and they didn’t say just insist on bank statements but it’s a secure tenancy so nothing could change it ? Income is irrelevant really but I sent it as was asked I need to get some concrete answers really as it seems quite intrusive and the reason why is not clear !

@JamesMiddletonsMarshmallows

For example, you could have your rent funded by a family member. But that wouldn't count as an income as it could change any minute. They can't just accept "she's paid for 15 years" as proof of affordability.

What exactly does affordability mean though ? Why do they assess that and for what reason ?

Why wouldn’t you want to send them in?

Is there something you’re trying to hide or you don’t want them to see how much you spend on Amazon/Tesco/online bingo?

Pretty much every person with a mortgage or private rental has to send in 3 months of bank statements, and do so without this paranoia

They are probably wanting to look at a range of things - is income coming in as big cash payments or a salary transfer. Is the amount of income regular or does it vary?
Do you have outgoings related to anything a bit dodgy?

Why are you worried about them seeing any other transactions? No one knows you personally. They're not going to sit round the office discussing how much you spend on deliveroo or at M&S.

They assessed me 15 years ago when I was granted the tenancy

I’ve shown all income and where from there can see that but they want everything else that I had reacted
No, nothing dodgy

I understand your hesitation OP. It really is rather terrifying that people have adopted a sort of "If you have nothing to hide, then you've nothing to fear" approach when it comes to privacy.

@DorisLessingsCat

Why are you worried about them seeing any other transactions? No one knows you personally. They're not going to sit round the office discussing how much you spend on deliveroo or at M&S.

It’s more a privacy issue. They did say jokingly when I got the tenancy ‘it’s a lifetime tenancy - even if you win the lottery ! ‘ so just unsure why now they want this info

Why do they assess that and for what reason

To ensure you can afford the rent.

Everywhere does it. If someone wanted to rent a £900pcm property but their income was only £1100pcm then that gives the agents a pretty good idea that it's not affordable. Or if they're applying for a £400pcm property and have an income of £1,200pcm but they're spending £600 a month gambling, again not a good idea to rent to them.

Things like "allowance" from family....or, if you're a bit dodgy, money from money laundering...or if you're good at playing poker...isn't what they'd classify as income for example. Because it's inconsistent/not guaranteed/illegal 🤣

@JamesMiddletonsMarshmallows

Why do they assess that and for what reason

To ensure you can afford the rent.

Everywhere does it. If someone wanted to rent a £900pcm property but their income was only £1100pcm then that gives the agents a pretty good idea that it's not affordable. Or if they're applying for a £400pcm property and have an income of £1,200pcm but they're spending £600 a month gambling, again not a good idea to rent to them.

Things like "allowance" from family....or, if you're a bit dodgy, money from money laundering...or if you're good at playing poker...isn't what they'd classify as income for example. Because it's inconsistent/not guaranteed/illegal 🤣

But it’s been paid for 15 years so clearly it’s affordable and they can see the income, amount and source ....

@Mylifenotscrutiny

They assessed me 15 years ago when I was granted the tenancy

I’ve shown all income and where from there can see that but they want everything else that I had reacted
No, nothing dodgy

But so much can change in 15 years WRT a persons income and outgoings

But surely any changes are irrelevant with a secure tenancy if the rent is still paid ?

They have no way of knowing you haven’t redacted extra ‘income’ from cash in hand work, drug dealing, robbing old ladies though.

They’ve asked to see income. As far as they are concerned, you could only be showing them part of it

But it’s been paid for 15 years so clearly it’s affordable and they can see the income, amount and source

But only what you've decided to show them!

@GappyValley

They have no way of knowing you haven’t redacted extra ‘income’ from cash in hand work, drug dealing, robbing old ladies though.

They’ve asked to see income. As far as they are concerned, you could only be showing them part of it

No they can see all the income as the income column isn’t redacted !

@JamesMiddletonsMarshmallows

But it’s been paid for 15 years so clearly it’s affordable and they can see the income, amount and source

But only what you've decided to show them!

No I’ve shown ALL income they can see that column is totally unredacted it’s a separate column on my statements

OP can you REALLY not understand why it's in their interest to see your outgoings?

This is how ANY agency giving credit/agreeing to a financial arrangement of some sort with you operate

Have you asked them why they need the other information? If you don't think it's legitimately needed, ask for the contact details of the data protection officer at the LA.

Because your regular expenses and outgoings are an important part of "affordability". If you have £2k a month coming in but £500 is going out on debt repayments & £800 on childcare, £300 on elec/gas/petrol, clearly you are going to be choosing between food on the table & paying the rent most months and that's important.

I mean flip this to another scenario.

Separated Dad goes to rent a flat. He might be earning a good wage but he's probably also got a hefty chunk of child maintenance to pay every month, so can afford less on that wage than someone with no kids.

Eg imagine two people with identical incomes but one has kids one doesn't, if they each apply for a mortgage the one without children will likely be offered far more, as they dont have the costs of children they can afford a bigger mortgage.