new buyer with mortgage concerns

irish_expat

Hi All,

I'm new to the whole mortgage thing so here it goes.

Myself and husband have been offered a mortgage in principle, we asked for 95000; they said we could have £188000 with out factoring in over times etc.

All they have asked for is 3 months pay slips, will they need bank statements? I am worried because each month close to pay day we both go overdrawn ( organise fee free overdraft) by about 30/40 as we know the pay is coming in, a bad habit I know.

I also like to play online bingo and am worried how this will look to a lender approximately £50 monthly.

all our bills are always paid, we budget in for £200 monthly savings, and have no childcare costs to consider as our family will be our neighbours.

Is it likely they will ask for bank statements? I have asked the mortgage advisor what we will need to complete application and all she has said was the payslips.

am I likely to be granted a mortgage? And do they always require statements?

Also I'm concerned my husband doesn't know I spend this money online bingo and I'm concerned of the fall out if raised in the meeting.

Any and all help greatly received

kingstreet

Drumroll...

... and the lender we're talking about is...?

irish_expat

I'm sorry is this a question for me?

kingstreet

Got to go and do something in real life now so;-

some lenders ask for three months' bank statements in every case

some lenders ask for three months' bank statements due to LTV

some lenders ask for three months' bank statements due to credit score

some lenders ask for one month's bank statement in every case

some lenders ask for one month's bank statement due to LTV

some lenders ask for one month's bank statement due to credit score

some lenders don't ask for bank statements.

We'll need to know your chosen lender, then possibly your loan to value and possibly even an insight into your credit history.

irish_expat

It's nationwide and we have a save to buy with the for 7 months
my credit history and that of my husbands is great. It's a 95% mortgage
and they've done the credit scoring already for my agreement in principle?

kingstreet

So, it could be no bank statements, one month's bank statement or three months' bank statements.

This would be based on negative point of LTV (one or three) or positive point of good credit history (none or one).

Opinion

irish_expat wrote: »

Hi All,
I also like to play online bingo and am worried how this will look to a lender approximately £50 monthly.

Also I'm concerned my husband doesn't know I spend this money online bingo and I'm concerned of the fall out if raised in the meeting.

Any and all help greatly received

Not to sound harsh and I'm not a relationship therapist, but this will be one of the biggest purchases of your life, a huge commitment, are you sure you should be proceeding if you're worried and hiding things as silly as that from your husband?

nubbins

You might need to fess up. I had a Nationwide remortgage recently and had to provide last 3 months statements, although the link states "might be requested"...

http://www.nationwide-intermediary.co.uk/lendingcriteria/general/general#statements