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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10550
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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I have recently applied to port my mortgage and have just

Resolved Question:

Hi, I have recently applied to port my mortgage and have just had a mortgage in principle accepted. It is a joint mortgage with my mum and part of the telephone appointment consisted of giving the bank both of our earnings. My mum couldn't find her wage slips so gave me what she thought she was paid annually. She included overtime, but we have just found her most recent wage slip and her annual earnings are less than what I stated. It is a genuine mistake but I was wondering what the repercussions of this would be ie fraud.
Thanks for your help
Hannah
Submitted: 1 year ago.
Category: Property Law
Expert:  Aston Lawyer replied 1 year ago.

Hi, thanks for your enquiry. I take it that you have a t this stage only had a phone chat and no formal application form has been submitted by you to the Bank/b Society? Kind Regards Al

Customer: replied 1 year ago.
Hi, yes it was only a chat on the phone but I was told a mortgage in principle had been accepted but there would be further appointments to actually apply
Customer: replied 1 year ago.
They sent me a certificate for the mortgage in principle and said it would only be valid for 90 days
Expert:  Aston Lawyer replied 1 year ago.

Hi, please don't worry- the Mortgage in principle is only an informal and non legally binding statement. All you need to do is to phone them up this week, and just explain you had made a mistake. As and when you find a property to buy, you will need to submit a written application with evidence of both of your incomes. A this stage, you certainly don't need to worry and you re not guilty of any fraud, as no legal agreement has been reached between you and the Bank/b Society. I hope this assists and puts your mind at rest. If so, please would you be good enough to rate my answer. Kind Regards Al

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Customer: replied 1 year ago.
Thanks for your help, it's been really helpful