My partner and I have applied for a mortgage with two banks in mid January 2020.
One bank has already processed the paperwork and we have been mortgage approved with them. I have a current and a savings accounts with this bank.
The other bank however keeps asking for additional documents and now they have requested additional information on the property that I have sold in my home country 4 years ago. Money from this sale forms basis of the deposit. The bank wants to see historic statements to evidence source of funds from the sale of the property to present date. They also want a copy of the contract for the sale of the property or a solicitor’s letter confirming same. Since I have already had to provide English versions of other documents originating from my home country, I assume the bank will only accept all the above documents in English. My partner and I have a joint account with this bank.
Is this a normal practice?
I am tired of constant requests for more and more information, and since the first bank has already accepted us for a mortgage, what would be the consequences if I ignore this request and don’t provide any more information?
Your thoughts and advice will be most appreciated!
Many thanks. Mona
One bank has already processed the paperwork and we have been mortgage approved with them. I have a current and a savings accounts with this bank.
The other bank however keeps asking for additional documents and now they have requested additional information on the property that I have sold in my home country 4 years ago. Money from this sale forms basis of the deposit. The bank wants to see historic statements to evidence source of funds from the sale of the property to present date. They also want a copy of the contract for the sale of the property or a solicitor’s letter confirming same. Since I have already had to provide English versions of other documents originating from my home country, I assume the bank will only accept all the above documents in English. My partner and I have a joint account with this bank.
Is this a normal practice?
I am tired of constant requests for more and more information, and since the first bank has already accepted us for a mortgage, what would be the consequences if I ignore this request and don’t provide any more information?
Your thoughts and advice will be most appreciated!
Many thanks. Mona