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Anybody grilled on bank statements during application
Liverlad67
Posts: 56 Forumite
Due to the new rules when you supply statements anybody been asked about amounts being withdrawn etc. makes sense with dd's who you pay regularly. But day to day is there a trigger say you take out £150 that's ok but if you take out £200 plus that sets alarm bells ringing. Dou you get grilled about anything you spend in cash.
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Comments
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Most lenders use ONS figures (generic figures), there is no set trigger point as such. Its all about what is reaosnable.
If you are withdrawing £50 every day then that could be questionable, likewise if you are withdrawing £200 on the 12th of every month. Lenders are not looking to account for every pound they are just looking to check you are not miles out from the norm.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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 -
Lenders can and will query anything they consider unusual on bank statements.
Things they can spot include:
Loans not declared
Income not fitting application
Account going over OD limit
Items returned
Unusual outgoings
Concerning spending habits (e.g. gambling)
Deposit funds coming inI 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
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