Remortgage MMR and various current accounts

GreatheadShield

Hello, we are looking to remortgage shortly as we are coming to the end of a 2yr fix with YBS. Our finances are fairly simple, low outgoings and high income & equity, but one thing worries me and that is that we use 4 current accounts for budgeting.

1. Is my husbands - his wages go in and his CSA payment comes out, he a also has some savings there (club lloyds)
2. Bills account for household direct debits, my wages go in here.
3. Rainy day & annual bills account where we save monthly and pay for all annual insurances, landline rental etc, plus birthdays and Xmas
4. Day to day spends account for groceries, fuel, personal spends etc.

I'm worried that the lender will think it's all too complicated! Will they want to see statements from all four?
We have budgeting spreadsheets so it's all very simple for us to understand but it may not look that way.

ACG

It is a bit OTT (in my opinion) for someone with such a straight forward situation. Its making work for yourselves but each to their own.

Lenders are likely to want to see statements from 1, 2 and 4 bank account.

callmechar

I do the same thing with lots of accounts for different things saved eg bills etc. Makes life easier for us.

Be interested to hear other's thoughts.

GreatheadShield

Hmmm, you might be right. I was thinking of amalgamating accounts 3&4. I do like the bills being separate and my husbands account is handy for the savings as he is basic rate taxpayer.

If I amalgamate accounts 3&4 now it'll probably look even more strange for the mortgage application!