Porting a mortgage with RBS

EmandTze

Hi
We have had a mortgage with RBS sine Oct 2006 and have never missed a payment. Now we want to move house to a slightly lesser value house but add life assurance which would mean monthly payments would stay the same as they are now.
For some reason, they want bank statements as well as payslips which worries me. Our bills are ALWAYS paid however, what with xmas and car trouble etc, our account was mostly overdrawn (but within agreed overdraft) in the past 3 months. I am worried that they will turn us down due to this, but what frustrates me is they are happy for us to stay at this address and owe them £84k but can they really stop me moving to another address and owe them £83k??
They wouldn't take our bank statements into account if we stayed here so why should they take them into account for us to change address?

Kind regards Em x

EmandTze

Sorry I don't know if I needed to put that I would like some advice, particularly from a legal point of view, but would be most grateful.
Thanks.

beecher

If you port your mortgage you're liable to the lending conditions as they are now, not as they were in 2006. Also if you're moving to a cheaper house, your LTV will be higher, which may be a consideration.

All you can do is wait and see what they say. Not sure what legal advice you're hoping for as it is up to RBS who they lend money to.

Bambywamby

If they want bank statements, they want bank statements as they are lending you money they are entitled to know your financial circumstances.
Is there anyway you can fettle your bank account a touch just until you have sorted your new mortgage out with them?
My friend withdrew £2000 pounds off a credit card and stuck it in her current account to pay up the over draft and be in credit. If the bank had asked her about the lump sum, she would say that a family member had paid off a debt they had owed her.
When she got her mortgage signed, she put the money back onto the credit card.
She only paid a small amount of fees on her credit card but must have saved thousands on her mortgage by getting the deal she wanted.

Work out and see if it would work for you.

Good luck x x