Mortgage company want Landlords details????

[BetteDavis01]

I'm currently applying for a mortgage as a first time buyer. I currently rent and my LL is great. The broker I am using, who has found me my mortgage and is doing the application for me; has asked for my LL contact details as apparently this is a requirement.

I feel very uneasy about this because of several reasons: firstly, I don't want my LL knowing that I plan on moving out; just incase my house sale falls through and secondly; I don't think it's right to hand out his details to a third party.

I need to ask the question, but haven't yet as to why they need to know this? What has it got to do with them? I can prove that I pay my rent each month without fail by producing bank statements.

Has anyone heard of this? I really do not want to hand out my LL details.

Have no idea, bump.

Thank you! Bump again!

we applied for a mortgage this time last year, and we definitely didn't have to give the landlord's details. however the mortgage application process has got a lot more detailed since then, so it may be part of that, i don't know

Who is the Lender? I've not heard of it. Is this the only mortgage he thinks you'll be accepted for?

I would ask you broker to clarify what they will do with the information before providing the details.

I wonder if they think that it's possible to fake regular rent payments if all you show them is a bank statement?

I'm wary because we applied for a mortgage last year but the sale fell through and we were certainly NOT asked for our LL details.

I'm really not happy about this, it will put me in a vulnerable position. I think I need to ask more questions. If it's just this particular firm of brokers that require this info, then I shall go elsewhere.

I've looked online but can't find anything about it. If it's a new regulation it must be very new.

It sounds a bit strange, I wouldnt like to give these details out. Im really unsure why they want them.

You are also protecting the landlords confidentiality, which is important. Your landlord seriously might not want people knowing his address, etc.

I wouldn't.

Good luck, hope it goes ok.

It's not that unusual to request a rental reference from the landlord, which is what the lender may do. Passing the landlords details to the lender shouldn't be an issue as it's a business transaction rather than a personal one.

Do you use an agent ? If so give their details rather then the LL's details. but would check why they need them. It is quite easy to fake rental payments, you could just set up another account or use someone else account and set up a DD into it.
As a LL it wouldn't bother me if a tenant gave my details on a mortgage application. It wouldn't change what is a business agreement. People move on with their lives, that's a fact of life. If you have a fair LL, then they would probably take the same view. If fact I have had several previous tenants that have gone on to buy property and have worked with them on timings where possible, but then I never re market a property until it is empty.

The Mortgage Market Review regulations have come in recently (in the last couple of months - June I think) and basically it makes it harder to get a mortgage because the providers are expected to do a detailed review of your income and expenses. This could be why you are getting questions about your land lord? A couple of friends going through it at the moment and they are getting asked all sorts of odd and personal questions about their spending. I think you could probably ask them not to contact your LL for the reasons you state in your OP until it is all confirmed and in place? Worth asking.

We asked for 6 months worth of rental payment history (which were in DH account) and details of the rental agency. This was just over a year ago. But then we were not worried about LL finding out about our search as she too was trying to sell the flat. I, at the time, assumed it was normal to be asked.