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Source of deposit error...
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How does applying for a mortgage work when your self employed? If your employed you could save every month. So if your self employed you can only count the money left at year end? Your monthly earns don't count?0
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Pretty sure Skipton will do this with a letter from your accountant as amn suggests.
What is very worrying is that L&C never checked before applying. As the saying goes, if you pay peanuts....I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thrugelmir wrote: »Accountants aren't in a position to make such statements.
Lenders accept such statements for this purpose from Accountants.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Its actually our fault as we believed the money was savings but that we had not drawn it from the company yet.0
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L&C should be asking for proof of deposit.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Okay yes I think they only wanted the bank statement at this more advanced stage. It certainly would have saved a lot of trouble if they'd checked before
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This can probably be rescued. Your broker needs to pick up the phone to either their account manager or the underwriter and explain the situation and see what they want to get it moving forward.
This is where a decent broker would come in to their own (or prevent the situation in the first place). Sorry to slag off the broker here and I would usually avoid the blame game but this falls firmly at your brokers feet.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
ACG I will certainly be asking questions of them tommorow which will hopefully push them a bit harder to get it resolved
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