How many months bank statements for Mortgages

edited 30 November -1 at 1:00AM in Mortgages & Endowments
10 replies 24.5K views
Moving2KentMoving2Kent Forumite
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edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi all,

i just wondered if all lenders ask for 3 months bank statements or have some just asked for one month? I have had high out going few months with long booked holidays and several big birthdays in my family and now we've chosen to move. My income shows fine but quite a bit of spending. Ive also paid off a couple of small loans. Looking to tidy up my accounts as of now and totally cutting spending for the next few months to give me 3 months consecutive but wondered if there are any lenders who ask for just one month?

Thank you in advance :)

Replies

  • ThrugelmirThrugelmir Forumite
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    How you spend your money is your business. That's not what the lender is looking for.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • amnblogamnblog Forumite
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    There are Lenders that do not ask for bank statements at all in normal circumstances.
    I 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.
  • Some lenders won't require any, some you can get away with just 1 months, most will ask for 3 though. However, as has already been mentioned, lenders aren't interested in how your money is being spent, more that you have regular outgoings that you can commit to.
  • Thanks for the reply. Is it specific lenders that don't require any or just case by case?
  • ThrugelmirThrugelmir Forumite
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    Thanks for the reply. Is it specific lenders that don't require any or just case by case?

    Expect the unexpected. Attempting to deceive in anyway could backfire and cause untold problems.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • Thanks Thrugelmir... No deception at all, as I said just a lot of spending in the last few months that doesn't represent my ongoing spending, income paid into current account. All bills and mortgages have been paid on time. Obviously want to approach lenders with the highest possible chances.
  • 3 months from my experience and I am just in the process of buying and selling. I was worried about the same, but to be honest they just look to see if you pay your bills and that you are living within your means i.e. not going over your overdraft etc.
  • amnblogamnblog Forumite
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    Specific lenders do not require bank statements
    I 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.
  • setset Forumite
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    Hi

    We're going with Woolwich/ Barclays. (I say going with, we haven't received formal offer yet :eek:). Anyway. They only wanted one months bank statements from us. Then they requested last 3 months bank statements from my husband but that was only to show the last 3 months rent payments going out.
    .
  • kingstreetkingstreet Forumite
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    i just wondered if all lenders ask for 3 months bank statements
    No. They don't. You could be asked for none, or as much as twelve months, based on lender chosen and case details.
    or have some just asked for one month?

    Possibly. Based on lender chosen and case details as stated.
    I have had high out going few months with long booked holidays and several big birthdays in my family and now we've chosen to move. My income shows fine but quite a bit of spending.
    Which most lenders won't give a stuff about.
    Ive also paid off a couple of small loans
    So make sure the lender knows about them. Don't just assume they will show as repaid on the credit system.
    Looking to tidy up my accounts as of now and totally cutting spending for the next few months to give me 3 months consecutive but wondered if there are any lenders who ask for just one month?
    Yes. Take media advice and eat nothing but beans on toast for three months and walk everywhere. Then you find out your chosen lender uses ONS stats and doesn't even want any bank statements.

    Alternatively, you could get advice from a professional and not the media and understand what is actually needed and what is media hype.
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
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