Should i tell...

blueb

Hi all,

just a quick query, i have started saving for a mortgage and i have my first meeting in my bank with a mortgage advisor. i hoping to outline the steps i need to take in the coming years to successfully get a mortgage application approved.

I have noticed from using one or two online mortgage calculators that the fact that im a single father seems to drive up the deposit needed.. quite substantially!!. My query is, is it a big deal if i do not tell the banks that i have a child?

Atlantic Dawn

Yes you would need to tell them you have dependents.

blueb

are there any repercussions if i do not tell them? how would they know if i do not tell them?

thanks

godtabh

blueb wrote: »

are there any repercussions if i do not tell them? how would they know if i do not tell them?

thanks

They'll look at your bank statements and estimate that you are spending over means just for one person i.e child care costs can be very high

blueb

ok , thanks for that

Toots

Supplying false information on a loan application is fraud. You sign a declaration at the end stating that you declare the information you provided is true and accurate.

Threads looking for information on how to falsify loan applications are not permitted on this forum, please read the Charter before posting.

Toots wrote: »

No Dishonest Dealings.
Don't ask how to get around repaying debts/defaulting/giving false information for loans etc - basically if it's not above board, and legal, it's not allowed. This includes advising posters to do it/how to do it.

Thread locked.