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  • FIRST POST
    • shopaholicno1
    • By shopaholicno1 12th Mar 18, 5:41 PM
    • 129Posts
    • 474Thanks
    shopaholicno1
    Has my husband ruined our chances of a mortgage?!
    • #1
    • 12th Mar 18, 5:41 PM
    Has my husband ruined our chances of a mortgage?! 12th Mar 18 at 5:41 PM
    We have just got our mortgage offer in principle through a broker. Today, got our offer accepted on a house, so next step is to apply for the mortgage.
    Husband had just casually mentioned he closed our old joint account this morning!!

    I can't believe he did this at such a crucial stage!

    What are the chances it's ruined us getting this mortgage now?
Page 1
    • Thrugelmir
    • By Thrugelmir 12th Mar 18, 5:44 PM
    • 58,448 Posts
    • 51,818 Thanks
    Thrugelmir
    • #2
    • 12th Mar 18, 5:44 PM
    • #2
    • 12th Mar 18, 5:44 PM
    There's no harm in closing old dormant bank accounts.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • shopaholicno1
    • By shopaholicno1 12th Mar 18, 5:45 PM
    • 129 Posts
    • 474 Thanks
    shopaholicno1
    • #3
    • 12th Mar 18, 5:45 PM
    • #3
    • 12th Mar 18, 5:45 PM
    That's great! We only recently stopped using this account (4 months ago) I was concerned that it'd knock 'points' off our scores and be seen as a negative factor
    • ACG
    • By ACG 12th Mar 18, 5:46 PM
    • 16,816 Posts
    • 8,773 Thanks
    ACG
    • #4
    • 12th Mar 18, 5:46 PM
    • #4
    • 12th Mar 18, 5:46 PM
    I think you can let your husband off the hook. I am sure that will not be a problem.
    I am a Mortgage Adviser
    You 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.
    • zx81
    • By zx81 12th Mar 18, 5:47 PM
    • 16,794 Posts
    • 17,805 Thanks
    zx81
    • #5
    • 12th Mar 18, 5:47 PM
    • #5
    • 12th Mar 18, 5:47 PM
    It will undoubtedly knock point off your score, but then so does breathing, the weather and the colour of your socks.

    That is why no one sees or cares about the score.
    • shopaholicno1
    • By shopaholicno1 12th Mar 18, 5:58 PM
    • 129 Posts
    • 474 Thanks
    shopaholicno1
    • #6
    • 12th Mar 18, 5:58 PM
    • #6
    • 12th Mar 18, 5:58 PM
    My husband called our broker who confirmed what you're all saying. He is off the hook!
    • AnotherJoe
    • By AnotherJoe 12th Mar 18, 5:59 PM
    • 9,367 Posts
    • 10,325 Thanks
    AnotherJoe
    • #7
    • 12th Mar 18, 5:59 PM
    • #7
    • 12th Mar 18, 5:59 PM
    I think government officials will be along tomorrrow to forcibly expel you to North Korea for sucha heinous crime as closings a bank account you don't use.

    Please also don't think you have to live on beans and toast from Aldi for the next 3 months in case they noticed you bought avocado from Waitrose two months ago.
    • ACG
    • By ACG 12th Mar 18, 6:19 PM
    • 16,816 Posts
    • 8,773 Thanks
    ACG
    • #8
    • 12th Mar 18, 6:19 PM
    • #8
    • 12th Mar 18, 6:19 PM
    they noticed you bought avocado from Waitrose two months ago.
    Originally posted by AnotherJoe
    If you do that, you can not breath for 4 weeks in order to balance everything out.
    I am a Mortgage Adviser
    You 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.
    • DaftyDuck
    • By DaftyDuck 12th Mar 18, 6:29 PM
    • 4,154 Posts
    • 8,656 Thanks
    DaftyDuck
    • #9
    • 12th Mar 18, 6:29 PM
    • #9
    • 12th Mar 18, 6:29 PM
    .... if you've been living off Aldi beans, you won't want to breathe for four weeks....

    Give hubbie a break, you too., buying is stressful enough. Now, Aldi wine, that I can recommend!
    • Smodlet
    • By Smodlet 13th Mar 18, 5:21 AM
    • 2,997 Posts
    • 6,030 Thanks
    Smodlet
    So long as it was an unused account and hubby is not planning on emigrating without you, I think you can stop boxing his ears.
    What is this life if, sweet wordsmith, we have no time to take the pith?
    Every stew starts with the first onion.
    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • LandyAndy
    • By LandyAndy 13th Mar 18, 7:50 AM
    • 24,259 Posts
    • 51,243 Thanks
    LandyAndy
    My husband called our broker who confirmed what you're all saying. He is off the hook!
    Originally posted by shopaholicno1

    He was never on the hook!
    • bertiewhite
    • By bertiewhite 13th Mar 18, 7:56 AM
    • 1,060 Posts
    • 1,178 Thanks
    bertiewhite
    He was never on the hook!
    Originally posted by LandyAndy
    I reckon he was at least on the way up to it, going by the title.
    • diggingdude
    • By diggingdude 13th Mar 18, 2:27 PM
    • 181 Posts
    • 183 Thanks
    diggingdude
    a friend of mine says her husband is always on the hook, she just doesn't know what for yet. To be fair he usually deserves it
    House Deposit - Target £20000 April 2019
    Current Savings - £10225 13121.22
    • Clutterfree
    • By Clutterfree 13th Mar 18, 3:51 PM
    • 3,492 Posts
    • 19,032 Thanks
    Clutterfree
    I'm more concerned as to how he managed to close a JOINT account without your permission?
    I thought both parties would need to authorise it but obviously not.
    Ageing is a privilege not everyone gets
    • Smodlet
    • By Smodlet 13th Mar 18, 4:30 PM
    • 2,997 Posts
    • 6,030 Thanks
    Smodlet
    I'm more concerned as to how he managed to close a JOINT account without your permission?
    I thought both parties would need to authorise it but obviously not.
    Originally posted by Clutterfree
    Both parties are not required to authorise a POS payment or to sign a cheque... One often hears of couples who have split up and one has emptied the joint bank account though, since it requires both parties to open a joint account one would think both were required to close it. It seems not to be the case. I will admit this is a little worrying.
    What is this life if, sweet wordsmith, we have no time to take the pith?
    Every stew starts with the first onion.
    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • gycraig
    • By gycraig 13th Mar 18, 6:58 PM
    • 431 Posts
    • 315 Thanks
    gycraig
    Why is it worrying that it doesn’t take both partners to close a joint account,

    I’d be more worried if I couldn’t close a joint account me and a ex gorlfriend had linking us together and giving her untold ways to screw my life over
    • Clutterfree
    • By Clutterfree 13th Mar 18, 7:46 PM
    • 3,492 Posts
    • 19,032 Thanks
    Clutterfree
    Both parties are not required to authorise a POS payment or to sign a cheque... One often hears of couples who have split up and one has emptied the joint bank account though, since it requires both parties to open a joint account one would think both were required to close it. It seems not to be the case. I will admit this is a little worrying.
    Originally posted by Smodlet
    Why is it worrying that it doesn’t take both partners to close a joint account,

    I’d be more worried if I couldn’t close a joint account me and a ex gorlfriend had linking us together and giving her untold ways to screw my life over
    Originally posted by gycraig
    Just wondered how the bank would know how to distribute any remaining balance if both parties were not present. It's not always 50/50.

    Re closing an account with an ex, I think you'd be able to freeze the account in that instance.

    Anyway, apparently all irrelevant if either party can close the account without the others knowledge.
    Ageing is a privilege not everyone gets
    • SuperHan
    • By SuperHan 13th Mar 18, 7:59 PM
    • 2,066 Posts
    • 1,221 Thanks
    SuperHan
    Just wondered how the bank would know how to distribute any remaining balance if both parties were not present. It's not always 50/50.

    Re closing an account with an ex, I think you'd be able to freeze the account in that instance.

    Anyway, apparently all irrelevant if either party can close the account without the others knowledge.
    Originally posted by Clutterfree
    It's joint cash. Meaning it belongs equally to both of them. So they'll probably distribute 100% to the person who closes it.
    • deannatrois
    • By deannatrois 13th Mar 18, 8:12 PM
    • 5,363 Posts
    • 7,527 Thanks
    deannatrois
    I agree I suspect the hook was in full use by the time the OP made her post lol.
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