Hi All, I have been contacted by father of my existing client who have UK property. His father is senior medical consultant in Middle East and owns a private medical centre. He is looking to take mortgage of 500k about which is currently valued at £5M with no mortgage on it. In order to accommodate his request bank is asking him to get his medical centre (Middle East entity) accounts verified by UK accountant, is any one come across situation like this ? and any suggestions how to deal with this? Thanks in advance for your thoughts.
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Hmm
I would say that you need to find out what they mean by verify the Middle eastern accounts? Frankly unless the UK accountant redos the accounts I am not sure if you would get anyone to verify the figures
Why a UK accountant?
Why would a Middle East bank want a UK accountant to verify the accounts of a ME business?
If
It's an international bank surely the accounts are audited by one of the major firms. Why not get the UK end to do the work