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Coming clean to the Mortgage lender

  • 11-07-2023 4:26pm
    #1
    A Knight of Ireland
    Registered Users, Registered Users 2 Posts: 148 ✭✭


    Quick question..

    Has anyone any suggestion about coming clean to a mortgage lender that the property has been rented out which was never declared to the mortgage lender?

    My friend's mortgage is coming to a close next year and has been told that the lender will require two forms of proof of address before handing over the deeds of the house. He only has one proof of address and his ID.

    Any suggestions welcome how best to approach this


    TIA



Comments

  • #2
    thebiglad
    Registered Users, Registered Users 2 Posts: 1,654 ✭✭✭thebiglad


    Why the need to come clean, bit late now with the mortgage paid, greater issue could be with the insurers. As the mortgage will be completed next year they have a year to obtain that 2nd proof of address so just focus on how to get that - presumably they can set up some bill on the property now so that over the coming year they will have the required proof.



  • #3
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,090 ✭✭✭✭Mrs OBumble


    Surely they just need proof of their actual address, not proof that they're living in the house.



  • #4
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,031 ✭✭✭3DataModem


    They won't care in the slightest.

    You can have a mortgage address that is different from your mailing address.



  • #5
    A Knight of Ireland
    Registered Users, Registered Users 2 Posts: 148 ✭✭A Knight of Ireland


    Would they not try to play the " Your mortgage interest rate should have changed once the residential property became a rental" card?



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