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why does the mortgage advisor need bank details?
jamtart6
Posts: 8,302 Forumite
went to see a mortgage advisor yesterday for the first time. he wanted our bank details and wants to credit check us..is this standard? when we saw antoher (family friend) mortgage advisor last year he didnt do any of that.
:ABeing Thrifty Gifty again this year:A
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Comments
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Have you discussed any mortgages in particular?
Have you decided on a deal you like?
Have you got any adverse credit history - advised the broker of any past credit problems you have had?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 -
Maybe he uses electronic money laundering checks. Having the bank details helps the chances of a greater score as it allows more data to compare against. I use Experian and bank details are on there as a box to fill in. Sometimes I do, sometimes I dont.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Nope no past problems. At least I know its on the form, thanks! You cant be too careful!
:ABeing Thrifty Gifty again this year:A
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Some lenders ask for bank details as part of the DIP, e.g. C&G ask for sort code and account number.0
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