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A really silly question! Moving money in bank account?

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A really silly question! Moving money in bank account?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
4 replies 521 views
DuckEggGinghamDuckEggGingham Forumite
315 posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hello all,

We have tentatively started talking to a broker regarding getting a mortgage soon. We have had it explained that at some point bank statements etc will be needed. Thats no problem but what I was just wondering is I tend to "sweep" all of the 'spare' money in our current account across to individual savings accounts that are attached. The little savings accounts are for the car, gifts, house buying fees e.t.c. Will this look bad when we hand in our bank statements? As effectively there is nothing in our current account as it all has a function so to speak lol

Thanks for any input and sorry for the silly question, a complete newbie at all of this.
Save 8k in 2013: Member #100
£450 / £8000

Replies

  • edited 31 January 2013 at 6:05PM
    cpdc1030cpdc1030 Forumite
    124 posts
    edited 31 January 2013 at 6:05PM
    Would be interesting to hear answers. But I do the same thing, and both NatWest and Yorkshire Building Society approved my mortgages without any issues.

    I think they're more interested to see if your declared income is correct, and for any weird outgoings (like an undeclared mortgage or loan, child support etc).

    Both lenders required three months of statements from my current account. As I get online statements, I had to have the printed copies stamped at the branch for them to be accepted.
  • cpdc1030 wrote: »
    Would be interesting to hear answers. But I do the same thing, and both NatWest and Yorkshire Building Society approved my mortgages without any issues.

    I think they're more interested to see if your declared income is correct, and for any weird outgoings (like an undeclared mortgage or loan, child support etc).

    Both lenders required three months of statements from my current account. As I get online statements, I had to have the printed copies stamped at the branch for them to be accepted.

    Thank you for your input. We have been told it will be 3 months worth too and like you we get online statements unluckily for us though we are a forces family based overseas right now looking to buy back in the UK to settle down and so don't really have the option of popping into our bank to get them stamped :( This is one of the reasons though why we have gone with a broker given our situation/the forces.

    Thank you again. I am scared at the moment to move any pennies over to the little accounts lol I was thinking about this issue on the drive home from work so thought I would just ask ;)
    Save 8k in 2013: Member #100
    £450 / £8000
  • sockpuppetsockpuppet Forumite
    257 posts
    Part of the Furniture 100 Posts Combo Breaker
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    Most banks now will accept statements printed from the internet as long as they show the http address along the bottom and are clearly your own accounts - showing your name/address/account number
  • My hubby is forces and the Halifax were great when we had any dealings with our mortgage. They also allow a free consent to lease whilst your serving, should you wish to move back into quarters and rent it out. I know brokers can shop around, but i liked the idea of knowing we were in control and making our decisions. Good luck with the house hunting.
    Starting again and working towards our new df life!
    A very proud forces wife
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