Another Mortgage application question

JodieR

... Luckily from Natwest and not Abbey...

When I've corresponded with lenders before they've always wanted a form completed, but Natwest is asking me to just write a letter confirming my client's profit and expected future profits. I'll obviously point out that my figures are based on information provided by the client etc, but is there anything else I should include or be aware of here?

Thanks
Jodie

claudialowe

You can state that taxable profits for year end xx were £x, and then whatever your client tells you, but with a massive disclaimer, so that Nat West can't sue you when the client defaults.

Have a trawl through Aweb, as this same question was asked recently(?) and there was (I think) a link to a disclaimer that could be written that would cover your backside.

Have you looked in the MIP toolkit? Is there one there?

Claudia

JodieR

Thanks Claudia, good idea, I looked in the tool kit and yes, there's meant to be a sample letter to send in this instance, but there's no link to it!
:thumbdown:

JodieR

also found the accountingweb question - helped a little bit - cheers!

deanshepherd

Here is a cut'n'paste of what I tend to use..

We refer to your recent letter and can confirm that we act as accountants for the above.

We have acted in connection with our client’s personal tax affairs since <INSERT DATE>. However, it should be noted that our knowledge of our client’s affairs may not be fully up to date. In addition, we have not carried out any specific work with regard to this statement.

Details of our client’s income as per their tax returns are as follows:

2008 2007 2006
£ £ £
Trading profit
Employment income
Rental income
Bank interest

Whilst we have no reason to believe that our client would enter into a commitment which they did not expect to be able to fulfil, we can make no assessment of their continuing income or future outgoings.

Whilst the information provided above is believed to be true, it is provided without any acceptance by the signatory or the firm of any responsibility whatsoever, and any use you wish to make of the information is, therefore, entirely at your own risk.

JodieR

Thanks Dean - much appreciated!

claudialowe

Thanks for that Dean :thumbup1:

Claudia

JodieR

I've just received a reply from member services and they have sent me a template letter to use - it may be worth other MIPs requesting a copy in case you need it in future (as it took a while to arrive!).
It does look pretty good :001_smile:

claudialowe

Copy and paste it here? :001_smile:

Please :001_smile::001_smile:

Pretty please :001_smile::001_smile::001_smile:

Claudia

JodieR

am I allowed? :001_unsure:

Poodle

I downloaded the one that used to be on the MIP tool kit.

It's in word so if you would like a copy please PM your email

Poodle

claudialowe

I have now got a copy of the letter.

If anyone else wants it, please send me a pm - and then once I have sent it to you, put a similar thing on the forum, and you can sent it onto the next person.

That way, we only have to send it once :thumbup1:

Claudia