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Accidentally committing mortgage fraud?

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Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Why the concern only now if you've had the mortgage offer?  Has something triggered alarm bells. 
  • panga9292
    panga9292 Posts: 5 Forumite
    First Post
    Thrugelmir said:
    Why the concern only now if you've had the mortgage offer?  Has something triggered alarm bells. 
    No, nothing to trigger alarm bells.

    I'm embarrassed to say it hadn't properly clicked with me until I re-visited my partner's submission to the mortgage broker yesterday. 
  • panga9292
    panga9292 Posts: 5 Forumite
    First Post
    pinkshoes said:
    You said above that "half of the money is coming from a mortgage", so did you declare the rest as cash deposit or a loan?
    Yes, looking back, in correspondence with the mortgage broker that money is mistakenly referred to as a deposit, not a loan. 
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    1,000 Posts Second Anniversary Name Dropper
    At the moment there has been some misconstrued information that hasnt been picked up on.   I certainly wouldnt call this fraud. At least until you draw the funds down after making a deliberate attempt to withhold information   

    The broker should have questioned what the payments to dad were, and the lender should have done the same.   You cant take all responsibility for this situation.  

    Ultimately if the repayments are to continue and it still fits in affordability with them (use the lenders website to find the calculator) then I dont see it as cut and dry that you will have an issue.  

    You arent paying £450/m for a loan to buy this house.  You are paying it for a previous loan to buy a previous house.   You are using the equity from the house sale to form your deposit for this one. 

    The only way you would be taking a loan for the purchase of this one is if you sold, gave money back to dad, and then he loaned it back to you for this purchase. 


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