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Should i tell...

  • 08-02-2016 3:14pm
    #1
    blueb
    Registered Users, Registered Users 2 Posts: 279 ✭✭


    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?


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,761 ✭✭✭✭Atlantic Dawn
    M


    Yes you would need to tell them you have dependents.


  • #3
    blueb
    Registered Users, Registered Users 2 Posts: 279 ✭✭blueb


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

    thanks


  • #4
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,243 Mod ✭✭✭✭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


  • #5
    blueb
    Registered Users, Registered Users 2 Posts: 279 ✭✭blueb


    ok , thanks for that


  • #6
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭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.


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