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One off payments in last 3 month bank statements
Rmphotography
Posts: 52 Forumite
We've had to print off the last 3 months bank statements as per normal for a mortgage application however I'm a bit concerned that this might give a misleading figure to the people assessing me and my partner for a mortgage.
The reason I'm saying this is in the last 3 months we have had a lot of what I'd call "one off" income and expenditure
INCOME
PPI Claim settled £1200
Sold motorbike £2000
OUTGOINGS
Furniture for new house £1000
Estate agent selling fees £450
Solicitors fees for selling house £250
Mortgage broker fees £150
When they look at income and outgoings are they purely looking at a simple formula of credit - debit = amount leftover or are they (as i suspect) looking to remove one-off debits and credits from the monthly picture?
Also do they look at things on a monthly basis eg Jan, Feb, Mar or will they look at them all combined to get a figure?
The reason I'm saying this is in the last 3 months we have had a lot of what I'd call "one off" income and expenditure
INCOME
PPI Claim settled £1200
Sold motorbike £2000
OUTGOINGS
Furniture for new house £1000
Estate agent selling fees £450
Solicitors fees for selling house £250
Mortgage broker fees £150
When they look at income and outgoings are they purely looking at a simple formula of credit - debit = amount leftover or are they (as i suspect) looking to remove one-off debits and credits from the monthly picture?
Also do they look at things on a monthly basis eg Jan, Feb, Mar or will they look at them all combined to get a figure?
0
Comments
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They will probably ask what these figures relate to. If you can satisfy them on the background, no problem.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.0 -
I went through the MMR process with a bank today. They did query the big one-off payments but accepted my explanations without fuss. I passed the check.
The payments you list all seem normal so you should be fine.0 -
If you are saving 3-4k every month despite a single one-off big payment, will they still query that?0
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