ipwnyounooblet
Registered User
- Messages
- 2
Hi,
I am currently going through the process of getting the loan offer issued by the bank. I have gone through a broker and as a final hoop to jump through the bank want me sell all of my shares that I am holding. I have sale agreed on a property for over 2 months and have been jumping through hoops presented by the banks as long, questions on my partners nationality, (Irish but a non-Irish name) despite me being a single applicant have also proven to be a sticking point.
In cash currently I have enough to cover the remaining deposit amount, any other outstanding costs and enough to support myself financially for a few months. Each month I purchase Scottish mortgage investment trust and BRK.B in a 70%/30% split. As such I have a reasonable holding in each.
My question is, is this even legal for the Bank to request this? My solicitor hasn't been able to advise on this as of yet. Is it a requirement for me to sell my shares, doing so would incur some tax obligations which I would prefer to avoid, not to mention exposure in holding cash until this mortgage process is complete.
If any further context is needed let me know. Any advice or help would be appreciated.
I am currently going through the process of getting the loan offer issued by the bank. I have gone through a broker and as a final hoop to jump through the bank want me sell all of my shares that I am holding. I have sale agreed on a property for over 2 months and have been jumping through hoops presented by the banks as long, questions on my partners nationality, (Irish but a non-Irish name) despite me being a single applicant have also proven to be a sticking point.
In cash currently I have enough to cover the remaining deposit amount, any other outstanding costs and enough to support myself financially for a few months. Each month I purchase Scottish mortgage investment trust and BRK.B in a 70%/30% split. As such I have a reasonable holding in each.
My question is, is this even legal for the Bank to request this? My solicitor hasn't been able to advise on this as of yet. Is it a requirement for me to sell my shares, doing so would incur some tax obligations which I would prefer to avoid, not to mention exposure in holding cash until this mortgage process is complete.
If any further context is needed let me know. Any advice or help would be appreciated.