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Mortgage application proof of savings

  • 25-12-2018 10:40am
    #1
    the-island-man
    Registered Users, Registered Users 2 Posts: 497 ✭✭


    Hi,

    I have a credit union account and I was wondering if it can be used to show regular savings for a mortgage application?

    The credit union has two accounts:
    • Flexi Account
    • Main Account


    The Flexi Account has an IBAN so I make the transfers to that account and then move it into the main account so that it can accrue interest.

    Thanks,
    The-Island-Man


Comments

  • #2
    Purplej
    Registered Users, Registered Users 2 Posts: 67 ✭✭Purplej


    Hey the-island-man,
    Should be ok as long as the account names match yours in full, including middle name. I had to get that sorted first ... not a problem, just a pain. Plus highlight the dates clearly so the underwriters can follow. In, out, etc.
    Best advice ever was to treat them like kids and explain it all super simple.lol.
    Underwriting does not like overcomplicated stuff.
    Best of luck.


  • #3
    Bank of Ireland: Darren
    Closed Accounts Posts: 991 ✭✭✭Bank of Ireland: Darren


    the-island-man wrote: »
    Hi,

    I have a credit union account and I was wondering if it can be used to show regular savings for a mortgage application?

    The credit union has two accounts:
    • Flexi Account
    • Main Account
    [*]


    The Flexi Account has an IBAN so I make the transfers to that account and then move it into the main account so that it can accrue interest.

    Thanks,
    The-Island-Man
    [*]

    Hi The-Island-Man,

    Thanks for getting in touch with us here.

    I can confirm that all accounts held with any financial institution would be taken into account when applying for a mortgage with us. You may need to provide statements in relation to these accounts when making the application. I've also given you a link here that can be used to arrange a call back from one of our mortgage specialists and they'd be happy to take all of your details and go through everything that you would need when making the application.

    Thanks again,
    Darren.


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