Cal Gaunt
A mortgage advisor has warned people not to put joke references when sending money to their mates.
It’s probably something we’ve all done at some point.
When it comes to transferring money within friendship groups, many of us have added questionable references to give ourselves a laugh.
But one mortgage expert says that if you’re hoping to get on the property ladder anytime soon, it’s a bad idea.
Check out this woman’s best money-saving tips and tricks in the clip below…
Mortgage advisor KAG Financial have taken to TikTok and uploaded a video titled: “How to avoid embarrassment when applying for a mortgage.”
It’s since left viewers panicking about their previous inappropriate references when sending money.
In the clip, the expert cautions against joke references, as lenders will also see them.
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The advisor says: “Remember the money you transferred to your pal? We see it and so does the lender.
“‘Money for drugs’ is probably not the best thing to use. (This is actually tame compared to what we see).
“Avoid joke references.”
These references, according to experts, could harm your chances of securing a mortgage.
However, the good news is that mortgage advisors and lenders usually only look at statements from about three to six months before applying, which means there is still time to remove any ‘questionable’ references.
While some viewers have been left relieved to learn that references such as ‘SUGAR DADDY’ and ‘Wifey Dollaaaa’ will not become a roadblock in their property search, others have taken the advice seriously.
One person comments: “I send myself money. And say things like… Bribe money. Hush money. Never even considered this!”
Another adds: “Jesus, some of mine are horrific.”
@kagfinancialmortgages “Money for drugs” #fyp #mortgage #foryou #firsttimebuyer #mortgageadviceuk #mortgageuk #mortgagebroker ♬ Bongo cha-cha-cha – Remastered – Caterina Valente
It’s essential to keep in mind that if you’re considering applying for a mortgage in the future, it’s best to cut out any references to illegal activity or improper jokes to avoid any awkward explaining during the process.
While the use of inappropriate references is not only limited to transferring money within your friend circle.
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It can also affect your professional life, as employers and recruiters often conduct a social media search on candidates.
It’s essential to ensure that any content you post online, including references to money transfers, is appropriate and doesn’t affect your image negatively.
While it might seem harmless to add a little bit of humour to the reference box when transferring money, it’s crucial to remember that it could harm your chances of securing a mortgage or even a new job.
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