Hi all,
So I went to look into getting a mortgage today and all was going well until I mentioned I hadn't paid any tax on my rented property (the property i own and am renting out). I was basically told I wouldn't get a mortgage without the proof that I had.
So my question is....why is this any of the bank's concern? Sure, I should have done so, but shouldn't the bank be mostly concerned with my capacity to service my new mortgage?
I will obviously pay the tax ( I just REALLY couldn't afford to when I started renting it, then just forgot basically) but I'm wondering why the bank's need this to be done and if there is a way around this until I get fixed up with Revenue as I'm anxious to get the ball rolling.
I'm sure I'm not the first in this position but the assessor I spoke to reacted like I'd committed world atrocities lol.
So I went to look into getting a mortgage today and all was going well until I mentioned I hadn't paid any tax on my rented property (the property i own and am renting out). I was basically told I wouldn't get a mortgage without the proof that I had.
So my question is....why is this any of the bank's concern? Sure, I should have done so, but shouldn't the bank be mostly concerned with my capacity to service my new mortgage?
I will obviously pay the tax ( I just REALLY couldn't afford to when I started renting it, then just forgot basically) but I'm wondering why the bank's need this to be done and if there is a way around this until I get fixed up with Revenue as I'm anxious to get the ball rolling.
I'm sure I'm not the first in this position but the assessor I spoke to reacted like I'd committed world atrocities lol.