Me and my partner have just got a morgage and have put an offer in on a house which has been exepted?
the problem we have is he has no bank statments. He has moved down from far is and staying with me and has nothing regsitered at this address so the bank will not change he's address. will this make are morgage lender decline?
Answers:
Depends on the lender and your credit scores. If the credit is good enough, a lot of times they won't care about the bank statements.
He should be able to get a copy of the bank statements though.the loan officer working on your loan should be able to request them via fax. If you're concerned about the address being different on the bank statements, a simple letter of explanation should clear up the confusion. Just explain it in writing why it's a different address.
If you listed his address wrong on the initial loan application, and you're worried they'll find out when they see the bank statements, then that's a different story. That one is more sticky. But a good loan officer should be able to work around the problem. Make him or her earn their money.
Before you get a mortgage I suggest you get a dictionary.
It's very possible. I just bought a house and I was prequalified for my loans but after that the bank put out a statement full of things that I needed to provide and a bank statement was one. I didn't even have a bank account . So, I opened one up and I only put 50.00 in it and I still obtained my mortgage.
I hope all is well and you do get your house.. The process is very stressful and time consuming. keep your spirits up through the process.
It depends on the lender.
I think you will find a lot of lenders now just ask for a declaration which means you tell them how much you are earning a year and take it at face value. When me and my partner got a remortgage a few months ago that's all we were asked to sign. No bank statements were needed
If you've already got the mortgage, and you have not misled the lender about your circumstances, then I see no reason why they should go back on their offer. Presumably your partner give his original address and can provide bank statements for his time at that address so that should suffice.
It will depend on a lot of things. The two most important are:First is his name even going to be on the mortgage. Second what TYPE of mortgage are you going to get. You can get one with less documentation but you will need to put more money down and you will not get as good a rate.
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Answers:
Depends on the lender and your credit scores. If the credit is good enough, a lot of times they won't care about the bank statements.
He should be able to get a copy of the bank statements though.the loan officer working on your loan should be able to request them via fax. If you're concerned about the address being different on the bank statements, a simple letter of explanation should clear up the confusion. Just explain it in writing why it's a different address.
If you listed his address wrong on the initial loan application, and you're worried they'll find out when they see the bank statements, then that's a different story. That one is more sticky. But a good loan officer should be able to work around the problem. Make him or her earn their money.
Before you get a mortgage I suggest you get a dictionary.
It's very possible. I just bought a house and I was prequalified for my loans but after that the bank put out a statement full of things that I needed to provide and a bank statement was one. I didn't even have a bank account . So, I opened one up and I only put 50.00 in it and I still obtained my mortgage.
I hope all is well and you do get your house.. The process is very stressful and time consuming. keep your spirits up through the process.
It depends on the lender.
I think you will find a lot of lenders now just ask for a declaration which means you tell them how much you are earning a year and take it at face value. When me and my partner got a remortgage a few months ago that's all we were asked to sign. No bank statements were needed
If you've already got the mortgage, and you have not misled the lender about your circumstances, then I see no reason why they should go back on their offer. Presumably your partner give his original address and can provide bank statements for his time at that address so that should suffice.
It will depend on a lot of things. The two most important are:First is his name even going to be on the mortgage. Second what TYPE of mortgage are you going to get. You can get one with less documentation but you will need to put more money down and you will not get as good a rate.
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