Mortgage audit

Mrsemmapage

We have sold our house and made an offer on another. Our plan is to port our mortgage (156k) to the new property and then when the small part of our mortgage is up for renewal in March 26 to pay off in full reducing our amount to 116k. This is in my husband's name only and we've been told that they now have pulled the port for an audit, what is it and why would they do this, they've also asked for my name and dob, although I'm not in the mortgage, never have been. Can someone give some advice as to why this happens, can they refuse to port. We've made a large amount of equity on our sale, so any debts we have will be gone, including this smaller bit of mortgage 

amnblog

An 'Audit' is a Lender's process for checking efficacy of their systems.

Cases are picked at random regularly for checks. Your case has NOT been identified as 'a problem' it is simply luck of the draw that is has been selected.

This delays the process for a few days whilst the Lender checks for dotting of 'i's and crossing of 't's - nothing more.

Hoenir

Any particular reason for you not to be included on the mortgage?  

Mrsemmapage

No no reason particularly, my husband has always just been the one to sort it as originally before we moved it was his house. 

Hoenir

My reference was to the new property the new mortgage. The optimal time to fully protect your own interests

user1977

Especially if it now seems to be you doing the admin for it!