Mortgages and Credit Unions

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deesmith

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When applying for a mortgage is there any way a bank can find out about a credit union loan if you do not disclose it?
 
Like what and how would they find out? There would be extra taken out in the mortgage to clear it so there wont be a monthly repayment
 
some credit unions are now [broken link removed]of the icb so I suppose they would share information.

There is also the consideration as to whether there is a question on the mortgage application form regarding other loans. Not sure I would be inclined to lie on a mortgage application given the possible implications, but that is just me.

Is your concern that if you disclose your CU loan that you would not get the mortgage based on affordability? Might the mortgage provider be correct in this assertion?
 
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