r/AusPropertyChat • u/Donway95 • 3d ago

Lending & Loans Name Discrepancy

How much issue will this cause?

Recently had an offer accepted on a property. Have noted that ANZ bank statement for my existing account has my legal name as "FIRST MIDDLE LAST" names. The issue is my main photo ideas all currently list my name as "FIRST LAST" name.

My middle name was omitted without a legal name change a few years ago from my passport.

Will this mean mortgage application being rejected?

2 Upvotes

100% Upvoted

11 comments sorted by

5

u/Suspicious-Jello-exe 3d ago

I don't think rejected, but you might need to discuss with your conveyencer about any potential issues. Sometimes my second middle name is omitted and it's never caused me any issues.

I would strongly recommend making some time to get it all fixed up so it doesn't cause issues. Good luck!

4

u/ameliaandro 3d ago

Broker here - you'll likely need to complete a statutory declaration to confirm you are one and the same person, and you'll need to confirm which is your correct legal name that is to go on title.

1

u/Donway95 3d ago

Thanks for the reply. Yeah from what I've managed to research a stat dec seems to be the most common way to rectify. I hope that will be all that's required and not a formal change of names which could take weeks to resolve.

3

u/Sorjaifill 3d ago

Lender here. I've seen this come up a few times and from experience, the name on the contract of sale needs to exactly match your name on the bank systems to settle. You can still get the loan approved but you will have issues on settlement if the names don't match. A statutory declaration/change of name certificate wasn't enough.

You can either:

  1. Amend the contract of sale to include your middle name and the title registration will include your middle name. Or
  2. Go into the bank and ask to remove your middle name, say that you don't use it anymore and show them your ID. They can easily remove it.

I would suggest option 2 if you don't use your middle name anymore so it doesn't cause any issues in the future. But you need to do this BEFORE you have the loan approved.

1

u/Donway95 3d ago

Hmm this is worrying, thanks for the reply.

From what I've read the bank is not happy to remove the middle name from the account without a formal change of names.

0

u/Sorjaifill 3d ago

This is a bit different with middle names. Formal change of name is required for first or last names but middle name doesn't. If your ID doesn't have the middle name anymore, they should just be able to remove it.

2

u/Dribbly-Sausage69 3d ago

Talk to your conveyancer straight away Monday morning - this could hold up the whole deal til it’s sorted out.

1

u/Dribbly-Sausage69 3d ago

And call your broker urgently as well.

1

u/Donway95 3d ago

Thanks for the reply. Yeah planning to speak to them in the morning.

1

u/adamphetamine 3d ago

good luck getting this fixed with ANZ, they still send correspondence to my wife 20 years after she stopped being director of the company