Underwriter question

maximus2015

Hey guys,

Underwriter wants to see statements from my partners account (she is not part of the mortgage in anyway)
she deposited 5k into my account in preperation for house repairs when i get the keys.

Is this going to cause a problem and what are the likely to ask for?

thanks

ACG

Its a bit of an open question that one, it could be nothing to worry about, it could be that they suspect something.

It always get a concerned when couples are buying a house in one persons name only.

Who have you applied with?
Why is it solely in your name?
Why would your wife pay £5k towards house repairs on a house she does not own?

maximus2015

ACG wrote: »

Its a bit of an open question that one, it could be nothing to worry about, it could be that they suspect something.

It always get a concerned when couples are buying a house in one persons name only.

Who have you applied with?
Why is it solely in your name?
Why would your wife pay £5k towards house repairs on a house she does not own?

Its with the principality...well we were going to apply together last year, but her personal circumstances (ill father) means she wants to stay home as there farm requires a lot of upkeep so ill be the only person at the house. We are not married and dont plan to get married. she was going to give me deposit money, but my father offered aswell and she said keep the 5k for house repairs / decorating.

ACG

I would pick up the phone and explain to them the situation (or ask the broker if you have one). There is no point sending bank statements across to sit in a queue for a few days, you may as well find out upfront if it is an issue.

maximus2015

Well my mortgage advisor phoned me yesterday and said she was going to email over what the underwriter required, like you said it may be nothing.

Ive got nothing to hide but i agree 2 large deposits into my account would raise suspicion, its just im in a very unique situation...... are they likely to ask for bank statement and a letter stating its a gift?

if i dont get this mortgage im basically homeless untill i find somewhere else to rent and renting around my area is around 600-800 a month, not to mention the estate agent fee's and bond

fingers crossed all goes well as my valuation was done yesterday aswell

ACG

One lender saying no is not the same as all lenders saying no.

I would not want to comment on your situation, I think it is best t leave it to your broker to sort out, thats what you are paying them for. I would have expected them to check this before applying.