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KBC mortgage - consent, consumer credit act

  • 08-11-2015 11:40pm
    #1
    prosaic
    Registered Users, Registered Users 2 Posts: 227 ✭✭


    On the KBC mortgage application, the consent form says they may contact employers or members of family.

    What is the purpose of this and is it reasonable? By family, do they mean parents or children?


Comments

  • #2
    Mongfinder General
    Registered Users, Registered Users 2 Posts: 1,992 ✭✭✭Mongfinder General


    prosaic wrote: »
    On the KBC mortgage application, the consent form says they may contact employers or members of family.

    What is the purpose of this and is it reasonable? By family, do they mean parents or children?

    Why have you mentioned the consumer credit act?


  • #3
    Jen44
    Registered Users, Registered Users 2 Posts: 455 ✭✭Jen44


    by family they prob mean if you are receiving any gift etc. We got a gift from our parents towards our deposit and our parents had to sign a declaration form sent to the solicitor by KBC to say they had no interest in the property or getting the gift back. They will definitely contact employers we had to get salary certs done then they also Emailed our bosses to confirm they were the ones who completed the salary cert and to confirm our employment was permanent and not subject to probationary periods etc


  • #4
    ForEffsSake
    Registered Users, Registered Users 2 Posts: 63 ✭✭ForEffsSake


    When we had approval from KBC we had the same clause. We didn't go with KBC in the end for other reasons but I wasn't happy with it. However, if you don't sign it, you may not get the mortgage approval.
    I didn't read it to say they could contact your place of work/family etc. where they needed to confirm details about your application. The way it read to me was that in the event you were getting into difficulties with your mortgage, they had the right to chase you up at your place of work or otherwise.
    But maybe I was being paranoid! I just know from speaking to a few solicitors, KBC can be difficult to negotiate with if you're having problems.


  • #5
    prosaic
    Registered Users, Registered Users 2 Posts: 227 ✭✭prosaic


    Mongfinder General wrote: »
    Why have you mentioned the consumer credit act?

    It's a form that is with the mortgage application that under consumer credit act, they need you to sign this to allow them contact other parties in relation to your mortgage.
    ForEffsSake wrote: »
    I didn't read it to say they could contact your place of work/family etc. where they needed to confirm details about your application. The way it read to me was that in the event you were getting into difficulties with your mortgage, they had the right to chase you up at your place of work or otherwise.
    But maybe I was being paranoid! I just know from speaking to a few solicitors, KBC can be difficult to negotiate with if you're having problems.

    Yes, I was reading it that they could hound you by contacting members of family or employer if the mortgage was in default. But maybe it's to do with making enquiries when establishing the mortgage as Jen suggests.


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