Hello
I have seen conflicting responses to this, so I wanted to check if recent applicants have any advice.
I have a personal loan of 20,000 CAD that I'm paying off monthly and a house mortgage - these both show as coming out of my personal bank account. I need to show settlement funds of around the same 20,000 CAD. My spouse and I have funds available to around 40,000 CAD in our joint account.
I have also just left my job last month to look after our baby, so no income is coming in from this month onwards to my personal account.
Question 1: Do I need to provide a letter of explanation to explain that my spouse will be able to cover the personal loan/mortgage or that this will come from our joint savings without touching our settlement funds?
Question 2: Or Can I ignore the mortgage aspect?
Question 3: Any other suggestions?
I have seen conflicting responses to this, so I wanted to check if recent applicants have any advice.
I have a personal loan of 20,000 CAD that I'm paying off monthly and a house mortgage - these both show as coming out of my personal bank account. I need to show settlement funds of around the same 20,000 CAD. My spouse and I have funds available to around 40,000 CAD in our joint account.
I have also just left my job last month to look after our baby, so no income is coming in from this month onwards to my personal account.
Question 1: Do I need to provide a letter of explanation to explain that my spouse will be able to cover the personal loan/mortgage or that this will come from our joint savings without touching our settlement funds?
Question 2: Or Can I ignore the mortgage aspect?
Question 3: Any other suggestions?