BOI ask for proof of living in house before sale

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olivia56

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Has anyone experienced this before a friend got approval from BOI to sale and buy again. They have come back a week later asking for proof she has been living in house the last 5 years with utility bills and if it was rented tax clearance and Nppr payments. She did rent it out for 16 months a few years ago while traveling and didn't pay appropriate charges.
 
Not in negative equity but to carry a tracker onto new property. House has equity of around €25k
 
I have a friend who lost her tracker when she was selling her property & hoping to carry her tracker on to her new property. She had been renting it out for a few years. The bank asked for all her bank statements prior to her new buy. She lost her tracker as her mortgage terms stated she would loose her tracker if she rented out her property. Not sure what bank. I'm guessing your friend will have to look at the terms of their mortgage?
 
olivia56 said:
Has anyone experienced this before a friend got approval from BOI to sale and buy again. They have come back a week later asking for proof she has been living in house the last 5 years with utility bills and if it was rented tax clearance and Nppr payments. She did rent it out for 16 months a few years ago while traveling and didn't pay appropriate charges.
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Wow the banks are getting very clever.

Whatever about the bank, your friend better hope revenue never find her.
 
Ulster bank last year, for the first time, asked me for the following, remember now I'm 10 years in on the mortgage/property loan:
  • assets/Liabilities including rent roll
  • Income details for both of you (P60 or up to date financials if you are self employed)
  • Confirmation of tax affairs.
This requirement is now an annual one I believe and it will be requested whether you are complying with your loan or not. I thought it was funny really that they were looking for this stuff at this stage when they never looked for it when they were shovelling the money out to me.

An email from me outlining the situation was acceptable. Later due to this I got into fixing my loan, at lower than the prevailling rate and then they asked me for payslips and rental tax compliance (tax assessement from revenue was ok with them) etc which really is riduculous considering I was fixing at a lower monthly amount. I was not asked for proof of NPPR etc.
 
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Bronte said:
Ulster bank last year, for the first time, asked me for the following, remember now I'm 10 years in on the mortgage/property loan:
  • assets/Liabilities including rent roll
  • Income details for both of you (P60 or up to date financials if you are self employed)
  • Confirmation of tax affairs.
This requirement is now an annual one I believe and it will be requested whether you are complying with your loan or not. I thought it was funny really that they were looking for this stuff at this stage when they never looked for it when they were shovelling the money out to me.

An email from me outlining the situation was acceptable. Later due to this I got into fixing my loan, at lower than the prevailling rate and then they asked me for payslips and rental tax compliance (tax assessement from revenue was ok with them) etc which really is riduculous considering I was fixing at a lower monthly amount. I was not asked for proof of NPPR etc.
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Bronte said:
Ulster bank last year, for the first time, asked me for the following, remember now I'm 10 years in on the mortgage/property loan:
  • assets/Liabilities including rent roll
  • Income details for both of you (P60 or up to date financials if you are self employed)
  • Confirmation of tax affairs.
This requirement is now an annual one I believe and it will be requested whether you are complying with your loan or not. I thought it was funny really that they were looking for this stuff at this stage when they never looked for it when they were shovelling the money out to me.

An email from me outlining the situation was acceptable. Later due to this I got into fixing my loan, at lower than the prevailling rate and then they asked me for payslips and rental tax compliance (tax assessement from revenue was ok with them) etc which really is riduculous considering I was fixing at a lower monthly amount. I was not asked for proof of NPPR etc.
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Bronte. About 6 years ago I got a similar request from AIB plus a demand for a copy of my accounts. All loans performing without any special deals with the bank at anytime. I refused to do so based on a number of grounds including there was no condition for this written into my loan offers. As a gesture of co-operation with them I did offer to provide them with a set of accounts based on similar principles to the set of accounts that they provided shareholders prior to they going burst. They did not pursue me for either the fictional or non-fiction accounts since.
 
Dermot said:
Bronte. I refused to do so based on a number of grounds including there was no condition for this written into my loan offers. They did not pursue me for either the fictional or non-fiction accounts since.
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That's funny Dermot, I didn't refuse as I couldn't care less, more bemused than anything. They basically accepted an email explanation and a copy of my Tax assessment, which really tells them nothing, I might not have paid NPPR or property tax or anything.

Just a month ago I got a letter telling me I was abroad and did I want to close my accounts as it would cost me in withdrawals - it doesn't as I'm in the EU etc.

And last evening two letters about the same account but each slightly different in paragraph 3 & 4 about how they are going to save money on sending out statements. The letter is long, complicated and will be thrown in the bin by most people. I think there is a departmetn in the bank with nothing better to do than dream up crazy letters. I might scan them on here if I can figure out how.

Especially like your bit about sending them accounts based on their own fiction/obfustication to shareholders.
 
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