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Mortgage application, nosy bank

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  • 02-05-2019 5:15pm
    #1
    jcb1986
    Registered Users Posts: 53 ✭✭


    The bank I am applying with (who are my current account bank) asked me questions about transactions well past 6 months back. Approx 9-12 months back. I thought only the past 6 months were relevant and they were only to look at the last 6 months?


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    #2
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,687 Mod ✭✭✭✭Stheno


    jcb1986 wrote: »
    The bank I am applying with (who are my current account bank) asked me questions about transactions well past 6 months back. Approx 9-12 months back. I thought only the past 6 months were relevant and they were only to look at the last 6 months?

    They have been known to ask for 12 months


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    #3
    awec
    Administrators Posts: 53,823 Admin ✭✭✭✭✭awec


    They can go back however far they want really.


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    #4
    Fian
    Registered Users Posts: 2,192 ✭✭✭Fian


    You can always tell them to mind their own business.

    and they can always tell you that they don't want to give you a mortgage.


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    #5
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    Do you want a mortgage or not? Banks hold the keys to the funds so play ball with them.


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    #6
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    jcb1986 wrote: »
    The bank I am applying with (who are my current account bank) asked me questions about transactions well past 6 months back. Approx 9-12 months back. I thought only the past 6 months were relevant and they were only to look at the last 6 months?

    They have discretion to go back further. Esp if something in the statements of last 6 months has flagged something they want to look into forward. As another poster said you can say no but they won’t give you a mortgage so you don’t have much sway on this.

    Rebuilding Ireland look for 12 months and if your self employed I think it can be 2-3 years so anything can go really.


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    #7
    yaboya1
    Registered Users Posts: 4,610 ✭✭✭yaboya1


    So nosey!
    Let's assume it's a person rather than a bank.

    Hey, give me a loan of €300k.

    Hmm, how do I know you'll pay me back? What do you do with your income?

    How dare you ask me that? :P

    :D


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    #8
    Lux23
    Registered Users Posts: 7,134 ✭✭✭Lux23


    As long as they don't ask what exactly you were buying from Massivedildo.com, I would answer all their questions.


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    #9
    Autecher
    Closed Accounts Posts: 1,960 ✭✭✭Autecher


    I had to show the last 3 years of my statements to get my loan approval. If all they want from you is going to be 12 months then count yourself lucky OP.


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    #10
    Ursus Horribilis
    Closed Accounts Posts: 6,168 ✭✭✭Ursus Horribilis


    I was asked for a year's statements from savings account and 6 months of everything else. Is there any reason you don't want them to see older statements? Seeing as someone is poring over 6 months worth of your finances anyway, what's the difference?


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    #11
    Interested Observer
    Registered Users Posts: 13,105 ✭✭✭✭Interested Observer


    Simple, just tell them to mind their own business. Let us know how it goes.


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