Mortgage application - bank account statements query

latecomer

Quick question (or 2) - we are applying for a mortgage and they have requested 3 months statements for all bank accounts. I'm going to try and phone them later to clarify whether its just current accounts or also savings accounts but wondered whats normal?

We've got 3 active current accounts and several Bank of scotland Reward ones we cycle money through to get the £5 bonus each month. I was going to ignore the BoS ones but now I'm not sure whether I should.

also there was no request to see credit card statements, which I expected there would be. I did state any balance is paid in full each month. Normal or not?

kingstreet

Current account(s) only.

They can see your credit account conduct from their credit search.

latecomer

Thanks for the reply kingstreet - would you include all accounts held including the reward ones or just the main ones? I suppose its better to give them too much info rather than not enough.

Its turning into a large bundle already thats going to be posted

kingstreet

I've only ever been asked to collect the statements for accounts borrowers have their salaries paid into. It would depend on the purpose I guess.

I don't think you're going to avoid the call to ask them what they want, I'm afraid.

latecomer

Thanks again - I'm just waiting for OH to get back to me with the direct
number for the mortgage advisor and then I'm going to call.

Conrad

I've recently known lenders ask for several accounts, for example where they suspect someone has a business account even though they claim to be employed. It can be triggered where for example an employed person happens to have a side line business as evidenced by a commerical loan / card / overdraft showing up in a search.

latecomer

Just a quick update to say I did manage to phone and its just the main accounts that they are interested in and no credit cards statements.

Application all filled in but walked past Britannia (existing lender) branch on way to post office and decided to ask about follow on rates and they have a 3.49% with no fee provided you switch your current account to them. They also provide a bonus based on their profits which gives a small offset to the higher rate although isn't a fixed amount or guaranteed. But it would be easier.....and if the bonus is similar to previous years would just about equal out the increased interest rate