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Mortgage and second current account

  • 11-03-2021 4:52pm
    #1
    [Deleted User]
    Posts: 0 ✭


    I have two current accounts - one which is my 'main' account where my salary/most expenses move through and a second one at a different institution (both have debit cards and neither has an overdraft). Am I obliged to declare the second account when applying for a mortgage and if I don't will the lender know anyway based on my credit report? When I met with my mortgage advisor she asked for 6 months of statements for my savings accounts and my current account and it didn't occur to me at the time to discuss the second account.

    There's nothing dodgy going on with the second account :o


Comments

  • #2
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    If you are making lodgments/transfers or withdrawals from one account to the other it will show up so why not just provide the six months statements as it will only slow your application.


  • #3
    Baby01032012
    Registered Users, Registered Users 2 Posts: 1,622 ✭✭✭Baby01032012


    Yeah how are you funding the second account, what is it’s purpose? If not from your salary


  • #4
    dotsman
    Registered Users, Registered Users 2 Posts: 3,636 ✭✭✭dotsman


    If there is nothing to hide with the second account, you should definitely provide the statements for it. What do you have to lose?

    If the bank find out you have the account, and you didn't declare it, it would look suspicious. Probably not the end of the world, but it certainly wouldn't look good. Even if you subsequently provide the statements after they ask about it, it would give the bank a feeling of "what else are they hiding?" and "why is the customer not being honest and upfront?".


  • #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Baby01032012 wrote: »
    Yeah how are you funding the second account, what is it’s purpose? If not from your salary

    My landlord refuses to accept bank transfers (we all know why!) so I have to pay my rent each month in cash. I have the second account setup as a payee from my main account but without my name on it and transfer x amount in every month with the narrative of 'rent'. Then I go to the ATM over a few successive days and withdraw the rent from the second account.

    The LL really is not for turning on the cash issue and on balance I thought it looked marginally less worse than huge cash withdrawals from my main account every month.


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