MSE News: Don't let online statements wreck mortgage and benefit chances

Former_MSE_Helen

"Many banks and government departments do not accept print-outs from online accounts as evidence of ID or income..."

Read the full story:

Don't let online statements wreck mortgage and benefit chances

Gromitt

and most banks will post you a statement for free if you are paperless and require one for such evidence.

So wheres the problem?

thatsean

Gromitt - that's not sensationalist enough!

Credit-Crunched

I can imagine the jounro, sat at his desk 10 mins before her deadline is due.

Racking his brains, to come up with the story to end all stories. Then he ends up with this....

Seriously, if this was a journalist in any other organisation, even voluntary local rags, he would be booted in a second.

Credit-Crunched

This article clearly does not understand the importance of lenders obtaining the correct information, to base the decision to lend hundreds of thousands of pounds.

I personally would not feel happy to lend money to someone who turns up with basically an excel spreadsheet saying this is my bank account.

Not once in this article is anti money laundering mentioned, the banks and building societies have a legal obligation to ensure they have sufficient evidence that the documentation provided is accurate and genuine.

I can see the article next year

'Banks loan money to fraudster after fake online statements provided'

When applying for a mortgage, its the individuals responsibility to ensure they have everything ready and waiting. Three months bank statements is hardly a unique request.

Order before you apply, simples...

Hominu

Why is it that everything that is obvious to most people is suddenly too complicated for the "vast majority" ?

In most cases, it costs the people with common sense more money and the people complaining exactly the same as they were people before (to pay for the alterations to make things 'simpler').

So people will complain about paperless statement and losing their house/etc, then the government will step in and demand all bank send out paper statements and disable paperless ones. Then we'll end up paying for our current account because these people can't think.

Sarah Daniels said: "This put my mortgage application back by about two to three weeks. My main bank account is paperless and the lender didn't accept savings statements with my address on or print-outs of main account statements (without my address).

Didn't she think about asking the bank what they wanted for Id BEFORE getting that far along? I remember getting all my forms of id ready when I booked the first appointment to view a house so I had everything ready should I have an offer accepted.

I love the ending though - "What can you do about it? Call them to find out what they need". LOL.

KTF

Its amazing how people expect to be spoon fed every step of the way rather than doing a bit of old fashioned research.

No doubt they will say they were 'miss sold' the benefits of paperless statements and look for someone to give them compensation on top.

innovate

Among our users who complained on Facebook, Sarah Daniels said: "This put my mortgage application back by about two to three weeks. My main bank account is paperless and the lender didn't accept savings statements with my address on or print-outs of main account statements (without my address).
"I then had to go back to the bank and wait another week for it to post them."

How does the 1 week the bank apparently took to send the statement turn into "about two to three weeks"?

It's bad enough for people to try and blame others (in this case, banks) for their own ommissions and mistakes. Do they really have to then exaggerate like this on top of it? Disappointing to see MSE seems to be encouraging this kind of attitude.

Chino

Gromitt wrote: »

and most banks will post you a statement for free if you are paperless and require one for such evidence.

Perhaps most will, but it appears not Barclays. From Barclays' statement FAQs:

"If you need a bank statement as proof of address, please note that some companies may not accept Online Statements. There are a couple of solutions available:
.
.
Contact us ... and ask us to post you a printed copy. There may be a small charge for this service."

Hazzanet

MSE News - home of the bleeding obvious recently.

Credit-Crunched

Hazzanet wrote: »

MSE News - home of the bleeding obvious recently.

recently?....;)