accounts for mortgage purposes

Am I gruppy old git or is it them

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I was asked for last 3 years accounts to be sent to a mortgage advisor.  So I sent 2016 (2015 comparatives) and 2015 with the 2014 comparatives, ie 3 years accounts.  They insist I send the 2014 accounts even though they have them.  Who is mad

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By mrme89
16th May 2017 16:20

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The answer is you. You are mad.

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By johngroganjga
16th May 2017 16:51

I agree that you are the one who is mad.

Think about what information is in the 2014 accounts that is not in the 2015 accounts. Anything or nothing?

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Replying to johngroganjga:
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By Vaughan Blake1
16th May 2017 17:11

Maybe, maybe not. I often send stuff to mortgage folks on this basis if it is a basic unincorporated set and I have never had a complaint.

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Replying to johngroganjga:
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By chancewind
17th May 2017 10:22

The comparative figures for 2014 are the same as the figures on the 2014 accounts so they already had all the information. " I do not understand what information is in the 2014 accounts that is not in the 2015 accounts"

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Replying to chancewind:
Stepurhan
By stepurhan
17th May 2017 10:54

Quote:

The comparative figures for 2014 are the same as the figures on the 2014 accounts so they already had all the information. " I do not understand what information is in the 2014 accounts that is not in the 2015 accounts"

The 2013 accounts comparatives would seem a fairly obvious point.

Also, as has already been pointed out, there are some items that aren't detailed in comparatives.

You were asked to send three years of accounts. You only sent two years of accounts. You are the one in the wrong here.

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By Mr_awol
16th May 2017 17:12

I agree with Mrme, BUT

Even before you go into that level of time cost comparison, you should know by now that the vast majority of mortgage brokers are box ticking muppets who neither know nor care whether they have three years' figures in two sets of accounts. What they do know is:
1) Some lenders have in the past asked, or might ask, for three years (perhaps in this case a lender has asked, or the computer might not even have suggested a lender yet)
2) It takes THEM no extra time to ask for it all now.
Therefore best practice is to request three years accounts, SA302s from HMRC and anything else which might conceivably be requested by any hypothetical lender so that the broker can upload it all and forget about it. Who cares if some accountant wastes half hour or so or has to lie to HMRC about the SA302s being for a VISA application just to get them posted out*

* Not that I have ever done such a thing, of course.

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Replying to Mr_awol:
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By tonycourt
16th May 2017 20:19

Out of interest; why would you need to lie about reason purpose of wanting an SA302?

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Replying to tonycourt:
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By Mr_awol
17th May 2017 15:34

There was a period during which they were refusing to send out SA302s for mortgage purposes (or at least being difficult unless you gave name of broker/lender etc). They were much more helpful when sending out for other purposes though.

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By Dick Stastey
16th May 2017 17:17

Have you thought about taking this up with the Council of Mortgage Lenders. It's absolutely outrageous all this unnecessary bureaucracy.

I'm so glad you've brought this significant issue to the membership's attention, so that we can all start making a point of not providing this morons with all the things that they've asked for.

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By bernard michael
17th May 2017 10:01

Why not tell the mortgage advisor (is that an oxymoronic phrase??) to ask the client for them - I assume they've got copies

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By rhino83
17th May 2017 10:09

I had this with a client a few months back. However the bank manager explained it was because they wanted to a see a breakdown of the capital account which comparatives is not given for in the accounts.

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