Mortgage appointment

lozahill89

HI Guys,


I have full mortgage application on Tuesday. I have been asked to provide proof of address, payslips, bank statements, Gifted deposit letters and Credit commitments with me.


I was wondering how much they delve into bank statements, I don't have many monthly commitments at the minute and I am saving on average around £700-800 a month and my partner saves £500. However, my bank account has never got much left in it at the end of the month, and I was wondering how many questions they will ask about outgoings. It is mostly food, and silly spending on clothes etc and some paypal purchases. I just don't want them to go through every transaction.


Will they even do this if we have a good deposit (15%) and great credit histories, with no defaults and extra savings?


Thanks in advance

amnblog

Contrary to popular belief it is not CSI.


You are allow to live and spend.


Stop worrying.

Goldiegirl

They won't be questioning you on every transaction. They'll be looking at the statements to confirm that the account doesn't keep going into an unauthorised overdraft, to make sure your salaries match your payslips and to see if there are any credit commitments that you haven't declared.


There might be concerns raised if you are spending thousands a month on gambling, but they are not going to ask you to justify every dress you've bought or grill you about your last eBay purchase!

lozahill89

Ok thanks guys, Nothing on my last 3 months bank statements that would flag anything up. I have not been in an overdraft for over a year, and even then it was a planned student overdraft. I have a credit card with a balance of around £750 on it, but I pay at least £150 off on this each month so I'm thinking that's ok? Is it true that as long as you are below 30% of available credit and no defaults you will be seen as ok?


We are ftb, and have been living with parents. I have no history of rental payments, but I think if we have been saving £1200-1300 a month it shows we can pay the bills involved with a house?


Thanks,


LAura

lozahill89

Any advice on the above guys?

betmunch

lozahill89 wrote: »

Any advice on the above guys?

To paraphrase amnblog: Chill out, nothing you have said rings any alarm bells