Information on mortgage record of suitability is incorrect...will the bank take back my offer :(...help

[IloveDisney89]

Hi all,

So I was offered a mortgage through TSB with the help of a mortgage broker. The mortgage record of suitability letter from the broker came through the post last night. I read through it and noticed that there a couple of things incorrect in the application. (He took the information over the phone ).

Basically I've been living in my current property for 4 years ..and he has put 2 years 10 months ( no idea where he got that from).

He has put that I earn £300 a month more than I actually do ( I even sent him the last 4 months payslips ).

He has also stated that I have no credit cards and no overdraft. I do have 1 credit card as I told him but I never used it..haven't in about 2 years. My current account has an overdraft of £1500 but I've never had to use it.

I haven't signed it yet .....

So the most important question is ..will correcting this information give the bank reason to withdraw my mortgage offer ?!
I can afford the mortgage that I have been offered and also expect to make £150 a month in overpayments ... but I guess all this might now matter.

What would you do?

Help and advice appreciated
X

Just get it corrected.

I'm pretty sure it would be fraud to sign and send back

Yea I thought so... I just needed to hear it from someone else.
I'm so annoyed because the move in date is set for the 1st March and this could ruin everything... and for once it's not my fault!
Thank you

It'll be fine. We had something similar, I just crossed out/corrected the wrong bits before I signed. I then made a formal complaint and was refunded half the application fee!

The only part that could be a problem is your income, it may mean they reduce the amount they're willing to lend. Most lenders will offer at least 3.5 times your annual income, some go as high as 5 times, depending how big your deposit is. The rest won't be a problem. He may have said no to credit cards and overdraft because they only want to know if you owe money on them.

I contacted the mortgage advisor and he says that the mortgage record of suitability letter doesn't have an impact of the mortgage application.
He states he will change the bits I have identified and resend but it's not an issue.
.... hmmm

I would trust what he says if you're still within those limits for how much your borrowing. I wouldn't worry about it, and I used to do that job.