Please help.... Applying mortgage as proof of funds

[tommy tommy]

Dear all,

Since my property (an apartment) is not an liquid asset, I would like to apply for a mortgage loan to transfer certain amount into liquid asset as proof of funds.

Someone told me that the money from mortgage loan is withdrawn from my own property so that it is not considered as borrowing money from other people.

Is it an alternative way to show my liquid asset? Thanks!

 

[msaeed]

Dear all,

Since my property (an apartment) is not an liquid asset, I would like to apply for a mortgage loan to transfer certain amount into liquid asset as proof of funds.

Someone told me that the money from mortgage loan is withdrawn from my own property so that it is not considered as borrowing money from other people.

Is it an alternative way to show my liquid asset? Thanks!

Sir

NO

Stay Blessed

 

[tommy tommy]

Sir

NO

Stay Blessed

Thanks for you reply.

However, the property is my belongings and I simply transfer a portion of the value of my belongings into liquid asset.

Is it acceptable to show this mortgage statement as liabilities in my application provided that the net asset value (after deducted liabilities) meets the required amount of settlement funds?

Thanks!

 

[msaeed]

Thanks for you reply.

However, the property is my belongings and I simply transfer a portion of the value of my belongings into liquid asset.

Is it acceptable to show this mortgage statement as liabilities in my application provided that the net asset value (after deducted liabilities) meets the required amount of settlement funds?

Thanks!

Sir

There is wisdom in twisting instructions of decision maker.

You need to have funds for a single day to get statement of account. Manage this and get rid of this

Stay Blessed

 

[tommy tommy]

Sir

There is wisdom in twisting instructions of decision maker.

You need to have funds for a single day to get statement of account. Manage this and get rid of this

Stay Blessed

Thanks again!

Actually, I have sufficient amount of money in my bank that required for settlement funds even if I don't apply for this mortgage.

However, in addition to increasing my liquid assets, I would like to invest an amount of money in stock market or foreign currencies and that's why I still want to apply for a mortgage loan.

So, I guess it doesn't matter for me to show the additional liquid asset and the liabilities together (from the same mortgage) to CIC. Am I right? Thanks.