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  • FIRST POST
    • Dolly123
    • By Dolly123 30th Sep 17, 9:16 PM
    • 78Posts
    • 2Thanks
    Dolly123
    Mortgage preparation question...?
    • #1
    • 30th Sep 17, 9:16 PM
    Mortgage preparation question...? 30th Sep 17 at 9:16 PM
    We are going to apply for our mortgage in feb time but I am in the process of getting everything ready,

    We both earn in the region £3-4k each per month into separate accounts he pays the rent, the car, the loan, his phone bill the sky and our credit card I pay the utility bills and the rest will it be better for all of our wages and bills to be paid in and out of one account? I assume they will want to see 3 months bank statements.

    What kind of things will they flag up on the bank statements as not good? I want to make sure every thing is squeaky clean
Page 1
    • Thrugelmir
    • By Thrugelmir 30th Sep 17, 9:43 PM
    • 56,181 Posts
    • 49,561 Thanks
    Thrugelmir
    • #2
    • 30th Sep 17, 9:43 PM
    • #2
    • 30th Sep 17, 9:43 PM
    If lenders ask to see your bank statements. As they may not. There'll be looking for undeclared liabilities, expensive hobbies or pastimes etc. For the majority of people this therefore is nothing to be concern about.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • Dolly123
    • By Dolly123 30th Sep 17, 9:57 PM
    • 78 Posts
    • 2 Thanks
    Dolly123
    • #3
    • 30th Sep 17, 9:57 PM
    • #3
    • 30th Sep 17, 9:57 PM
    I dont have any expensive hobbies, other than shopping lol
    • archersluck
    • By archersluck 1st Oct 17, 12:08 PM
    • 617 Posts
    • 2,255 Thanks
    archersluck
    • #4
    • 1st Oct 17, 12:08 PM
    • #4
    • 1st Oct 17, 12:08 PM
    Just going through this at the moment, separate statements are fine, just keep things consistent. Avoid going into your overdraft and don't gamble

    Saving for a deposit: £11,621.15
    20/25lbs
    • Dolly123
    • By Dolly123 1st Oct 17, 7:55 PM
    • 78 Posts
    • 2 Thanks
    Dolly123
    • #5
    • 1st Oct 17, 7:55 PM
    • #5
    • 1st Oct 17, 7:55 PM
    Does the national lottery count as I do this online? I don't have an overdraft so no trouble with that lol
    • amnblog
    • By amnblog 1st Oct 17, 8:17 PM
    • 10,069 Posts
    • 3,925 Thanks
    amnblog
    • #6
    • 1st Oct 17, 8:17 PM
    • #6
    • 1st Oct 17, 8:17 PM
    You are worrying about something that is not a problem Dolly.

    You are allowed to live your life and spend money.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Dolly123
    • By Dolly123 1st Oct 17, 8:47 PM
    • 78 Posts
    • 2 Thanks
    Dolly123
    • #7
    • 1st Oct 17, 8:47 PM
    • #7
    • 1st Oct 17, 8:47 PM
    haha thanks, I'm just worrying as ive had credit problems in the past coming up to 6 years ago this month so I'm just desperately to get it squeaky clean
    • Dolly123
    • By Dolly123 10th Oct 17, 8:43 PM
    • 78 Posts
    • 2 Thanks
    Dolly123
    • #8
    • 10th Oct 17, 8:43 PM
    • #8
    • 10th Oct 17, 8:43 PM
    Well my default dropped off and overnight my credit score went from 617 to 987! amazing!!!
    • YHM
    • By YHM 10th Oct 17, 8:54 PM
    • 299 Posts
    • 97 Thanks
    YHM
    • #9
    • 10th Oct 17, 8:54 PM
    • #9
    • 10th Oct 17, 8:54 PM
    Sounds like you are in a perfect position to be putting an application in!
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • enthusiasticsaver
    • By enthusiasticsaver 10th Oct 17, 10:08 PM
    • 4,827 Posts
    • 9,104 Thanks
    enthusiasticsaver
    You don't need to have everything coming in and out of one account. The bank statements are to prove monthly income and some lenders will look for gambling entries and how you manage your money.
    2 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Blade200
    • By Blade200 11th Oct 17, 2:59 PM
    • 22 Posts
    • 0 Thanks
    Blade200
    Dolly. Your score went up?! My partners default fell of her file yesterday but her score went down!
    • Dolly123
    • By Dolly123 11th Oct 17, 9:23 PM
    • 78 Posts
    • 2 Thanks
    Dolly123
    Oh no gutted, I wonder why that is!
    • Edi81
    • By Edi81 11th Oct 17, 9:58 PM
    • 324 Posts
    • 199 Thanks
    Edi81
    Because the score is a ficticious marketing ploy by the credit reference agencies!

    They don't lend money - banks do and they build their own scoring models.
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