bank statements for mortgage

catoutthebag

is it a good idea to highlight all things going out (deposit, pension, holiday, car insurance, tax money) when i bring in 3 months statements (im s/e)

hieveryone

I think the underwriters/brokers will be smart enough to figure it out to be honest.

catoutthebag

hieveryone wrote: »

I think the underwriters/brokers will be smart enough to figure it out to be honest.

really? how so, without a description on the statements, would they be able to figure out a) deposit b) car insurance c) holiday d) tax? Explain. Are they mind readers?

Pension goes out to a pension company o thats fine.

Any harm on it? If I gave you my bank statements, and not told you about any of the different outgoings, would YOU be able to 'figure it out'?

catoutthebag

hieveryone wrote: »

I think the underwriters/brokers will be smart enough to figure it out to be honest.

quoted for posterity

kingstreet

Yes. Please do not mark them.

We can tell what different things are and if in any doubt will ask.

We tend to be asked by lenders for things out of the ordinary such as one-off credits or debits or regular payments which should have been included in a category in the affordability calculator.

hieveryone

catoutthebag wrote: »

really? how so, without a description on the statements, would they be able to figure out a) deposit b) car insurance c) holiday d) tax? Explain. Are they mind readers?

Pension goes out to a pension company o thats fine.

Any harm on it? If I gave you my bank statements, and not told you about any of the different outgoings, would YOU be able to 'figure it out'?

My apologies if I have missed something obvious, but won't the outgoings be 'marked' by the company? i.e 'Tesco Bank' for car insurance, 'Savings' for a transfer of money etc.

Again, apologies if I have missed something totally obvious, my brain is mush after a busy day today :rotfl:

Contemptuous

catoutthebag wrote: »

quoted for posterity

Really?

I don't see why you bothered posting the question in the first place if you already think you know best.

As quite rightly pointed out, lenders don't want you scrawling all over your bank statements. The Underwriters are quite familiar with how bank statements work and are used to seeing a wide array of deductions. IF your particular statement somehow managed to fox them, they would indeed ask for clarity.

amnblog

Don't mark the statements.

It will only lead to more questions.

Totally unnecessary.

catoutthebag

hieveryone wrote: »

My apologies if I have missed something obvious, but won't the outgoings be 'marked' by the company? i.e 'Tesco Bank' for car insurance, 'Savings' for a transfer of money etc.

Again, apologies if I have missed something totally obvious, my brain is mush after a busy day today :rotfl:

NO
They are not TAGGED as anything
They are OFTEN INTER BANK TRANSFERS

I read someone here who did this and it was ENCOURAGED by those in the know

catoutthebag

amnblog wrote: »

Don't mark the statements.

It will only lead to more questions.

Totally unnecessary.

fine
10 characters

catoutthebag

and I wasn't thinking of 'scrawls', just colour coded highlighters