Mortgage company asking for reference from landlord

2bFrank

Hello,

Is it normal for a mortgage company to ask for a reference from our landlord.

We applied for a mortgage a while ago and on the form they asked for our landlords details. We provided this, and when we checked the update of our application, they are awaiting a reference from our landlord. Is it just me or does this sound strange.

I am worried that the landlord wont be quick with the reference. They have been good landlords and I am sure I am worrying for nothing, however I just wonder if anyone else has come across this.

Thanks

sooz

Yes, perfectly normal. They want to check you've been paying rent in full & on time.

Have you asked your landlord to provide a reference? You did warn them that you are thinking of moving, and that the bank have requested a landlord reference...

kingstreet

Which lender is it?

I can't remember any of my cases going to landlord's reference, going back 27 years.

2bFrank

Thank you for both replying.

Yes we gave them a quick ring to say that we have offered on a property and the mortgage company has asked for their details and if it was ok to give them. They seems fine, in all honestly I think it will be fine, as they have been good landlords, but this close to the sale and we are just worried. We have paid rent on time and in full, however when we moved in, the second rent payment was late by a few days (rent day fell on a weekend and our standing order was set to the actual rent day, rather than a few days beforehand to allow it to process). The landloard was fine with this and we made the adjustment with the standing order to come out a few days earlier. Will this cause a issue?

Kingstreet - the mortgage is with the nationwide.

Just a theory question, but what would happen if our landlord refused to give the reference, would we lose the mortgage?
Thanks again

kingstreet

Unlikely.

You might lose it based on a bad reference. If the landlord refuses, you'll probably be asked to provide twelve months bank statements showing the rent payments going out of your account.

Nationwide, eh? You live and learn!

Yorkie1

NW didn't ask for my LL's reference when I bought 15 months ago.

cr1mson

It really depends on LTVs, income etc whether they will ask for one but is far from unusual. They should send a proforma rather than landlord having to do one from scratch so shouldn't be hard for landlord to do.

Crimson