Bank statements help

firsttimebuyer14

Hi All,

I've been reading for a while but first time actually using the forum.

Basically, I am looking to hopefully attain a mortgage for the first time. I have a good credit score from the online checks I have done. I have spoken to an advisor for an initial meeting and have started looking at properties.

My concern is I'm showing my last 3 months bank statements...but they aren't great!! I've been living at home and spending most of what I was earning, but had really started thinking about getting a mortgage and have made a conscious effort over the last 6 weeks to budget as if I had my mortgage. Will this mean I probably won't get a mortgage because of my frivolous spending? Should I hold off for another 3/4 months before proceeding?

I know it probably seems ridiculous to have been careless but everything is in great order now, I just don't want to be disappointed if I find a property and my bank statements let me down!

Any info would be appreciated,

Thanks

S

GMS

There are lenders who don't ask for bank statements.


What have you been doing? Any bounced direct debits/cheques etc? Any unauthorised overdraft?


May not be as bad as you think.


Get the statements to the adviser and see what they say. Above all don't panic. You can't undo the past.

ACG

So of the last 3 months half of that is showing you being careful with money?

Dont worry about it, I think you will fine but go off what your broker says

firsttimebuyer14

All my bills are on time, I was in my arranged overdraft during this time but never missed a payment or unnaranged OD. I'm out of it now and have a credit card which I only use for online purchases but I pay off straight away.

It's interesting to hear of lenders who don't ask for statements - it seems everything I hear from the new rules after april has freaked me out and just worried it could be lost solely from bank statements, but as you mentioned - half of it is much tidier and as it will be if I do have a mortgage!

Thank you for the help

S