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Revolut Statements and Crypto transactions

  • 15-02-2022 6:09pm
    #1
    Arun Thomas
    Registered Users, Registered Users 2 Posts: 26 ✭


    Hi,Iam planning to get a mortgage in the next months.So I have been keeping my bank accounts clear.But I have a revolut account and crypto.com account.I havent made any transactions to them since then.So will they ask for it.I have investments on crypto worth 34k .So is it a good thing to show that.Will it benefit me in anyways or better to hide it.



Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,861 Mod ✭✭✭✭Henry Ford III


    Remember that lying is fraud I think you've no real choice.



  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,613 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/2058233156/revolut-statements-and-crypto-transactions


    If you deliberately hide the information from the lender it would constitute fraud - obtaining money by deception. And there could be two consequences of being caught - the worst being that the loan would crystallise, meaning it would be payable on demand and the second would be that the lender could decide to file a criminal complaint against you.

    I'm not sure why you feel the need to do so in the first place. Yes it is a high risk investment/speculation and the bank would most likely be excluded it from any evaluation of your circumstances in assessing ability to pay etc.... But then lots of people have hight risk investments.

    Loan officers are not out of touch with the world, they know well that people gamble, make risky investments etc.... and they know people try to hide their activities from them.... and just because they don't mention it does not mean the they don't know about it.



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