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Applying for a mortgage - Moving money around

  • 29-03-2016 9:28am
    #1
    Taboola
    Closed Accounts Posts: 1,052 ✭✭✭


    Looking for advice regarding this. I've been using an old BOI student account for my savings for the last year. My current account is with AIB. I was thinking of moving my savings to an AIB "Online Notice Deposit 7" so that all my funds are in the same location.

    I'll be applying for a mortgage in the next week or so (fingers crossed) and I'm wondering if this is a good or bad move?


Comments

  • #2
    unclebill98
    Registered Users, Registered Users 2 Posts: 3,816 ✭✭✭unclebill98


    Makes no difference where your money is for a mortgage application as long as you provide statements to show it.

    But if your looking to make more interest then you need to way up access to funds vs interest paid etc. Plenty of options with all the banks in that regard.


  • #3
    Taboola
    Closed Accounts Posts: 1,052 ✭✭✭Taboola


    Thanks for getting back to me.

    Will I still need to provide statements for my BOI student account to show that's where the money originally was or would the new savings account be enough?


  • #4
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    You will need to provide 6 months savings account statements and 6 months current account statements to your lender when applying for a mortgage so best to get these before you move the account.


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