Guarantor’s Bank Reference Request Letter
This Guarantor’s Bank Reference Request Letter This Bank Reference Request Letter is for use by residential landlords and letting agents in Wales to support the tenant referencing process where a contract holder has proposed a guarantor.
Why Download this Template
The template is designed to request information from a prospective guarantor's bank about their financial standing before entering into an occupation contract. It helps landlords and letting agents make informed decisions when assessing whether the proposed guarantor is financially suitable to guaranteee payment of the rent a property in the event the contract-holder defaults.
The letter includes a consent section that must be signed by the proposed guarantor before the request is sent to the bank, helping ensure the referencing process is transparent and appropriately authorised.
For best practice, the letter should be printed on the landlord's or letting agent's headed paper and sent directly to the applicant's bank for completion.
Renting Homes (Fees etc.) (Wales) Act 2019
Under the Renting Homes (Fees, etc) (Wales) Act 2019, landlords and letting agents are prohibited from charging fees for setting up new occupation contracts, which includes the cost of obtaining references. This means that any costs associated with obtaining a bank reference must be met by the landlord or letting agent.
Using a professionally prepared template helps ensure your referencing process remains consistent, efficient, and compliant with current Welsh residential letting requirements.
This Guarantor’s Bank Reference Request Letter is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
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