Lender requesting docs after contracts signed

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I am currently buying and selling .Accepted a loan offer from my bank.They sent legal pack to my solrs.Signed contracts on both houses and am ready to close in 2 weeks now the bank have decided they want more proof of income.

They currently have vast amounts of proof of income but say they just want another letter from employer for their files.I am very peed off.Why have they requested this so late in the day as my boss who deals with this issue is away..All the outstanding docs were hand delivered to them 2 months ago.This included p60s for 2 years.,salary cert,payslips.Has this happened to anyone else.Its the timing i have a gripe with.

Worried, worried ,very worried.
 
Seems weird. One explanation is that your file may have failed an internal quality review, and the person dealing with your case has been ordered to get the further proof of income. Either way, that's not your fault. Any way to get this letter from anyone else in your company? Can you go to the HR department and get someone to write a letter (on headed paper) saying:

"I confirm that Mr/Ms X is employed on a full time contract with Company Y. His/her current salary is €XXX per annum, which will be reviewed again in September"

Yours etc.


This might do the trick. As long as it looks official and tells them what they want to hear, there shouldn't be a problem. Best of luck. I can appreciate the stress this must be causing.
 
How long ago did they make the loan offer? I think that there may have been a tightening up of standards as there have been a lot of fraudulent P60s and salary certificates issued.

A few friends of mine who dealt with Bank of Scotland found that they kept asking for more information. That was two or three years ago and they may have changed since. Was it Bank of Scotland by any chance?

Why are you going to this particular bank? Have you tried others? There are some good mortgage brokers who contribute to Askaboutmoney - Liam Ferguson and Rea Mortgages for example. You could give them a call.

Brendan
 
Thanks for the reply.Its the branch mortgage manager that is dealing with the case and when he took all docs and looked through them he said all was grand.They knew we were changing mortgage lenders too so appeared very eager to get the business nothing seemed too much trouble in fact they even offered us bridging.So this to us has come from nowere.....but obviously somewere.It is 7 weeks ago we accepted the offer.

In a heap now dont know why in case they decide not to give us the money.We have put down nearly 40k in deposit and they know it as have giving us 30k of it.as bridging.Yikes.

Will have to try get the info from someone in the company its just so infuriating.The bank is BOI by the way.

Brendan i see what you are saying on the fraudulent side of things but in this case salary cert,p60 and payslips are all adding up they even see the salery going into the current account as its also with them.????

In anyway i am off to worry some more thanks for the advise.
 
Was there a condition in the letter of offer that you had to provide additional proof of income before they issued the cheque? If there is, you need to give them it - if not, then tell them its not in the letter of offer so why are they changing the conditions now, etc..
 
I appreciate your difficulty. Could you clarify exactly what they have asked for in the letter from employer?

It could be as several others pointed out merely to confirm your permanecy but this is not clear from what you said.
 
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