Mortgage accounts

Emthi

Take on a client who wants to certify his account for mortgage purposes. To do this I have asked him to declare his income and expenses and this should be in his own words. And also I’m going to have the confirmation in money laundering form and have the authorisation on 64-8.

Do you think that these formalities are enough to give the accountant certification for the mortgage purpose?

monkeypuzzle47

I personally wouldnt write a letter to the bank to verify his accounts unless I had actually prepared his accounts myself.

Monsoon

monkeypuzzle47 wrote: »

I personally wouldnt write a letter to the bank to verify his accounts unless I had actually prepared his accounts myself.

I agree. If they've prepared their own accounts, you need to verify that what they have done is correct, in the same way as if you had prepared them yourself.

Remember, the bank wants accounts drawn up professionally to give them a reasonable degree of confidence.
If all you do is MLR then and ask them to confirm that they think they've done their accounts right, that's not fulfilling what the bank want. It might put you on a sticky wicket with your PII provider too.

If they need it verifying they will need to pay a market rate for accounts production.

T.C.

If you haven't prepared the accounts, don't touch it!