proof of income

Apple45

How fussy are high street banks likely to be when making a formal application?

theartfullodger

Fussy. Simply be honest,

jozbo

as fussy as its possible to be

ERICS_MUM

I wouldn't call it being fussy.

G_M

They are not at all fussy.

They are careful.

Very careful.

And since it is my savings that they are lending to you, I'm glad. Just wish they'd been as careful throughout the last two decades.

goldbyron

These days....fussy. The lack of fussiness got us all into this mess in the first place. When I was going to re-mortgage last year (I have sold it now) and I had about 30% equity and an 8 year perfect mortgage history....they still queried things going in and out of my account - like my partners weekly payments to cover Sainsburys shopping! Seriously high street banks will be the worse as well I expect.

Brock_and_Roll

....as oposed to before the bust when a very well known lender lent my wife and I 650k on a bridging loan. They told us they would check my wife's earnings as she is self employed - fine by us as we had all the proof needed. This "check" consisted of some dumbass ringing each of us up in turn asking "Do you earn X per annum?" On saying yes he announced our loan was approved! Just to make sure the broker tipped us off 5 mins before each call and "recommended" how we should answer. Simples!

poppysarah

Brock_and_Roll wrote: »

....Just to make sure the broker tipped us off 5 mins before each call and "recommended" how we should answer. Simples!

I would hope he'd said "honestly"


They should have been far more careful about lending... but stable doors, horses, bolted etc...

theartfullodger

Brock_and_Roll wrote: »

....as oposed to before the bust when a very well known lender lent my wife and I 650k on a bridging loan. They told us they would check my wife's earnings as she is self employed - fine by us as we had all the proof needed. This "check" consisted of some dumbass ringing each of us up in turn asking "Do you earn X per annum?" On saying yes he announced our loan was approved! Just to make sure the broker tipped us off 5 mins before each call and "recommended" how we should answer. Simples!

Sounds like conspiracy to defraud to me... and probably the authorities.. shouldn't be too difficult to track you down.... it's not often I feel sympathy for Banks/Building Societies but you just achieved that reaction..

sonastin

theartfullodger wrote: »

Sounds like conspiracy to defraud to me... and probably the authorities.. shouldn't be too difficult to track you down.... it's not often I feel sympathy for Banks/Building Societies but you just achieved that reaction..

Sounds a bit harsh - Brock_and_Roll said they had everything in place so sounds like a legitimate application to me. No defrauding. Just a conspiracy to help the banks be stooopid :rotfl:

firstaspect

Well if you mean "will they ask for proof if I say how much I earn" then yes. Which won't be a problem right?