What questions did your mortgage team ask you that surprised you? Also, did any bank seem error ridden
This is a new thing. We are being asked questions because in the past banks messed up big time. Not my problem. I never messed up in the past.
Yes, when I have bought my lunch, fuel etc with Revolut I lodge more money into Revolut again. Only every so often.
Wow, you really make big assumptions. There is nothing to suggest drug dealing or gambling in the statements. Is Circle K a drug dealer etc etc?
Seemingly these days. If they don't want to make money from me fine. I wonder if they'll change their tune when I tell them I'm moving my money elsewhere
Their questions are not logical. They have not done their sums correctly. Not analysing enough. I suspect they couldn't be bothered thinking. A lot of the modern workforce are like this
Grand be the way you are and no bank will accept your mortgage application. There not obligated to loan you money.
Save for 30 years instead so.
That's fine
I'm going to go out on a limb here and say no, they won't. Just a hunch.
to be honest OP it’s probably for the best you do not get a mortgage as you do not seem mature enough considering your posts here.
I say they'll be delighted rather than dealing with you!
No wonder people are leaving Boards in their droves
Mature? Right
& that's fine
I think you under-estimate just how unimportant your business is to any bank.
No, no they won't.
In fact, they'd probably be quite pleased to be rid of a customer getting unexplained cash deposits that they refuse to elaborate on. Makes it easier for them from an AML perspective.
I worked in branch banking for years and I learned the best way to deal with someone threatening to take their money out was to offer to help them do it there and then.
9 times out of 10 they'd make an excuse and that'd be the end of it.
Some business just isn't worth the hassle and timesink.
In fairness, I think the most likely outcome is that the bank will disregard their legal obligations under money laundering legislation and the Central Bank mortgage rules, rather than risk losing the custom of one very paranoid and obtuse customer.
Enjoy your new home OP.
I engaged the services of a financial adviser before applying for our last mortgage and arranged to meet him for lunch near to where I was working at the time. I told him what we were planning to do and he thought it was a great idea, I told him how much we would need and his only question was "You brought me all the way down here for that?" I asked what was wrong and he said "FFS, I could have got you twice that over the phone."
That was at the height of the boom and the arse fell out of the economy not long after we signed for the loan, mighty glad we didn't take more than we needed and even happier he advised a Tracker mortgage.
They messed up in the past by giving loans to people who never, ever should have been allowed to borrow money. What they're doing now is better.
Dead right that €150k in interest is far more important to them that the millions of fines they'd receive for breaching the 5th AMLD.
OP you say you've never messed up in the past, fair play. You're 100% messing up now though. Simple and very standard questions about cash deposits into an account and being unwilling to show them you're Revolut account are massive red flags for the bank.
I applied to multiple banks. It worked out as 70 pages of statements, wage slips etc. Then they always ask for more, and then just before drawing down the loan they again ask for latest pay slips and statements in case you lost your job or don't have same money in account. Final thing before money is transfered over, besides solicitor saying all is in order, is everything is reviewed by a different person in Dublin and their main job is to check everything and probably ask for something else. Everything is taken into account, location of house, number of children, credit card outstanding debit, amount spent on food and socializing and cash or any large sums is suspicious. This is all perfectly normal and standard. The initial request for loads is that they know it takes time to get everything together and better have too much than going back and forth 10 times over multiple months.
What do you want everyone here to be telling you?
That your opinion is very mature, the banks are evil and incompetent and to pat you on the head for fighting the good fight?
You are not entitled to a mortgage. A bank does not have to give you a mortgage.
Generally when someone has a thing that you want you go along with the questions they ask to get the thing you want. It's not rocket science.
Unexplained cash income, at best income not declared for tax purposes = potential tax charge, fines, penalties and interest from revenue down the road. At worst criminal proceeds = potentially time spent in jail and not earning, fines, interest on undeclared income.
Why would a bank lend money to a pedant who will not do the simple thing and explain the source of the cash?
OP sounds like the definition of a Narcissist to be honest. High and Mighty and feel there better than everyone else. Bank should be privileged he choose them as he's King of the World and how dare they question him! They should take for granted how great he is.
Not enough cop on to know how to get a mortgage though.
Yes, the deluded bank that will lose your valued custom. 50 k is it?
Have got mortgage in the past so you're not correct there
Wouldn't you like to know
God this forum is the absolute pits
Not correct
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