Satisfactory conduct of bank accounts?

catlady28

Hi guys

So this might seem like an obvious question but as a FTB I don't have much experience in things like this...

Basically myself and my partner have applied for a mortgage (57%LTV) and have passed the credit checks and affordability, now the underwriter wants three months bank statements to check.

What will they be looking for? Will being in an arranged student overdraft affect their decision? (I am currently a student so do not have to pay interest for overdraft fees for the next two years). I could transfer some money into my account to become in the black but will this just look dodgy as I have been living out of my overdraft for the past couple of months??

Please help as I do not want to mess things up now!

Thanks.

reapz69

who is the bank>?

catlady28

Mortgage is with Natwest, overdraft is with halifax

reapz69

catlady28 wrote: »

Mortgage is with Natwest, overdraft is with halifax

Hmm at what stage did the underwriter request bank statements, on full application?

I only ask becuase I am also going through with a natwest mortgage and all the requested from me was proof of deposit after I had sent the full application in.

Now im waiting for a survey to be booked.

So I think it works like this.




1 full application (credit scoring full check)
2 Provide any other details (bank statements proof of deposit etc)
3 Survey instructed

Does this sound similar?

Also as long as you dont go over your overdraft limit i think your fine, they are looking for people that go over I belive

catlady28

Yes that's the same, did full application over the phone, passed credit scoring etc, advisor on the phone said underwriters will want my bank statements and proof of my student bursary, then if that is all ok they will book the survey. I am the second applicant, don't know if that makes a difference.

reapz69

catlady28 wrote: »

Yes that's the same, did full application over the phone, passed credit scoring etc, advisor on the phone said underwriters will want my bank statements and proof of my student bursary, then if that is all ok they will book the survey. I am the second applicant, don't know if that makes a difference.

tbh i am not sure about the first/second app thing but really you dont have anything to worry about as long as your not over the limits it will be fine i guess

catlady28

A couple of people i have asked have said the similar, it's just to check for unauthorised overdraft charges, bounced cheques etc. i think i am just being overly nervous as i don't want anything to go wrong :-s

Thrugelmir

catlady28 wrote: »

I am the second applicant, don't know if that makes a difference.

Then places far more emphasis on the primary borrower so to speak.