Name and Address Proofs

loobs40

I am getting increasingly frustrated with the tunnel vision of banks and Building Societies. All of them are pushing us towards Internet banking and paperless statements, yet when it comes to applying for mortgages or loans etc they need to have 'originals' and paper statements.

I am making an application for a remortgage. I bank with Cahoot,, but apparently Halifax need 6 months of original statements not internet ones. That is going to cost me £30 just to get the statements from Cahoot.

They also want original utility bills dated in the last three months. I am struggling with this. My Power bills are all with Powergen and therefore Internet based bills. My last BT bill is just over three months old and the only other non internet bill I have is my water rates which are four months old.

Isn't there something that can be done to make internet bills valid for proofs ??

silvercar

Do you have any council tax bills. I would be tempted to send in water & council tax bills even if they are over 3 months old along with print outs of more recent internet bills.

dunstonh

I am getting increasingly frustrated with the tunnel vision of banks and Building Societies. All of them are pushing us towards Internet banking and paperless statements, yet when it comes to applying for mortgages or loans etc they need to have 'originals' and paper statements.

Write to your MP if it concerns you that much. It is the European Money Laundering guidelines that are being followed correctly and I am sure you don'd want to see your mortgage advisor (or account opener) in prison because they didn't follow the guidelines correctly.

The fact that your existing provider charges for statements is not the fault of the Halifax. So you shouldn't blame them. Other suitable identification methods for proof of address are driving licence, home visit, electoral roll check, Mortgage statement, local authority tax bill or motor insurance certificate. Most of those are not available in home printed form.

loobs40

I am not blaming the Halifax. I am making a comment that we are being persuaded by lots of institutions that to move online to a paperless world is efficient and worthwhile, yet what is forgotton in all this is that many institutions such as banks and loan companies won't / can't accept internet proofs.

However, Cahoot charging me potentially £30 for six statements is extortionate and well beyone the reasonable cost of providing the statements.

loobs40

dunstonh wrote:

Write to your MP if it concerns you that much. .

Clever answer eh ?

The forum is for discussing issues that are important to individuals and a little less sarcasm would be in order.

dunstonh

loobs40 wrote:

Clever answer eh ?

The forum is for discussing issues that are important to individuals and a little less sarcasm would be in order.

Identification is not really an issue once you realise the range of things you can use. Hence why I listed the alternatives.

Writing in these forums is going to get it changed. A little more common sense would be in order from you.

sarah_elton

loobs40 wrote:

I am making a comment that we are being persuaded by lots of institutions that to move online to a paperless world is efficient and worthwhile, yet what is forgotton in all this is that many institutions such as banks and loan companies won't / can't accept internet proofs.

I agree with this entirely - my current account is with HSBC, and I cancelled my paper statements as their Internet banking is very good. Like you though I have to request statements from them as needed by other institutions. Surely there is some way the technology for checking proofs can catch up.

Joe_Bloggs

THere may be issues of affordability that are being tested by the sixth month mortgage statement request. Ask for a redeption statement at the same time from cahoot.
I have been urged by mortgage lenders in the past to adopt internet based statements. They could easily print out a mortgage statement that covers a year broken down monthly on one bit of paper every month. I.F a poor relation of HBOS used to do this. Now all I get is current account statement that I rarely use. The savings account that feeds it is not mentioned.

Proof of residence is easier than proof of identity in my view. For identity you need one of:
A full signed passport, full driving license no older that 10 years. A Photo provisional licence is acceptable. (It better have the right address on it). Shot gun /fire arms certificate (unlikely in my view). A CIS4(P), CIS4(T), CIS5/CIS6 Photo registration subcontractors certificate issued by HMRC. A benefits book or proof of a state pension. Current revenue tax notification. Current residence permit (Home Office to EU nationals). EEA State identity card. Blue disabled drivers pass. Northern Ireland Electoral ID card. If under 18 a birth certificate or NHS medical card.
The cheapest for me was to ask for a revenue tax notification. My driving license is old style and from a previous address. I don't have a car. Unfortunately my local tax office (250 miles away) denied my existance. Having set the record straight with their out of date records I now have a notification. I trust I will have to explain to Halifax their own rules to them.
J_B.

Fairdo_2

Hi Loobs40

Firstly, if you do end up having to order 6 months worth of Bank Statements, you have a right under law not to pay more than £10 for the whole request. Even if you order a years supply! I can't remember whether it is part of the Banking Code, but if anyone does quote you £30 then get them to confirm with a superviser.

Regarding the paperless irony, I understand your frustration and know that the likes of Accord Mortgages encourage brokers to scan and email the Application and supporting documents. However, I am afraid they would be likely to prefer a scan of the paper copy.

Joe_Bloggs

@Fairdo
How does the 1998 Data protection act sound ?
http://www.yourrights.org.uk/your-rights/chapters/the-right-to-know/subject-access-under-the-data-protection-act/applying-under-the-data-protection-act.shtml

J_B.

Fairdo_2

Cheers Joe_Bloggs.

Sounds good to me. Knew it was somewhere!!!