why do banks ask for mothers maiden name on a mortgage application?

newmum83

is this normal? is it a security check? they have already checked me out and didnt ask me that but its a question on the form. my mum is dead though. also why does it ask for names and date of birth of dependents? whats my kids ages got to do with a mortgage? will they need to see my kids birth certificates?

robpw2

mothers maiden name is usually so that when you contact them in future they can ask you it and its something that only you should know

opinions4u

newmum83 wrote: »

is this normal? is it a security check?

If you ring them up with a query it makes it easier for them to identify who you are ... making it less likely that they will talk to a third party about your mortgage.

also why does it ask for names and date of birth of dependents? whats my kids ages got to do with a mortgage?

Affordability.

will they need to see my kids birth certificates?

Highly unlikely.

luckyfool

opinions4u wrote: »

Affordability.

To clarify, the ages and numbers of your kids will impact on your outgoings and how long those higher outgoings can be expected to last. i.e. If you have 3 kids but they are all 16-18 the lender may take a view that your higher outgoings are only going to last another 2-5 yrs depending on whether they go to university, at which point they will no longer be dependents. It can also impact on how much if any income they take into account for child benefit or tax credits. With younger children the lender might take a view that the benefits and tax credits will be there for a while, whereas if your children are approaching 18 then they would be unlikely to take such income into account as it would soon be stopping.

skull

This question, asked so automatically, can be upsetting for someone who is adopted, grew up in care, or has recently lost their parent.,I never give my mother's maiden name for security checks anymore as so many other companies/utilties use this question, it is no longer a secure way to identify someone. It's also really easy for someone else to find out. Better if the bank/company ask you to choose a security question and answer, less likely that others will know that.

debsinbrighton

I always think this is a silly security question as nowadays many people's mother's maiden name is also their own surname (due to their mother being a single mother)!

sunil1234

debsinbrighton wrote: »

I always think this is a silly security question as nowadays many people's mother's maiden name is also their own surname (due to their mother being a single mother)!

lol, chavtastic:p

Goldenyears

robpw2 wrote: »

mothers maiden name is usually so that when you contact them in future they can ask you it and its something that only you should know

As a security question it has been overtaken by recent developments. Your mother's maiden name is listed on public on-line databases. Partial knowledge of someone's age and place of birth can narrow it down. If your name is unusual then maybe not even this information is necessary.

magpiecottage

luckyfool wrote: »

To clarify, the ages and numbers of your kids will impact on your outgoings and how long those higher outgoings can be expected to last. i.e. If you have 3 kids but they are all 16-18 the lender may take a view that your higher outgoings are only going to last another 2-5 yrs depending on whether they go to university, at which point they will no longer be dependents. It can also impact on how much if any income they take into account for child benefit or tax credits. With younger children the lender might take a view that the benefits and tax credits will be there for a while, whereas if your children are approaching 18 then they would be unlikely to take such income into account as it would soon be stopping.

Actually, the main issue is whether or not they need to get a consent to mortgage. This is needed if the child is over 17 as they may otherwise have a legal right to stay if the lender attempts to take possession.