Do I need bank statements for Halifax application?

sturgeon

I've read on this forum that Halifax don't generally require bank statements for a mortgage application. However, on my recent application as part of the docs my mortgage broker asked for prior to even submitting it, he asked for 3 months statements.

Was that unnecessary? As per another thread just posted I dipped into my agreed overdraft for about a month this year quite significantly and don't want to voluntarily show that in case it raises questions. I have to reapply for the mortgage as the offer is expiring and my new build is delayed.

Can I just tell the broker that I'm not giving statements for him to voluntarily submit and we should only do so if required? Will they be required under normal circumstances??

Contemptuous

The broker won't send your bank statements to the lender if they're not required. Halifax don't want the extra work.

ACG

We (as in brokers need bank statements on our file) the lender may want them but not always.

If a client told me they were not giving me statements, I could not do their mortgage although to be completely honest, I would turn the business down. It looks like you have something to hide - going off your previous post you dont, nothing major anyway.

You could have just added this to your other thread though, no need for 2 posts on basically the same thing. Speak to your broker about your concerns and let them sort it out, thats what they are being paid for.

Mummyto4kids

We went with halifax and our broker took three months worth and told us he would shred them if they weren't needed. They asked for my husbands but not mine they gave the reason as my current account being with lloyds and his with Barclays - if you've just used an agreed overdraft then I'm sure that you could explain that via the broker - hubby used his overdraft up to approx 50% at a time quite a lot as he was self employed so his wages would go in from his ltd company a bit randomly depending when he got paid and they seemed ok with that

ACG

Mummyto4kids wrote: »

our broker took three months worth and told us he would shred them if they weren't needed.

I would be very surprised if he does not have electronic copies somewhere. Infact if he doesnt he is opening himself up to a whole host of problems with his compliance and Halifax.

sturgeon

OK thanks guys.

ACG, based on my other thread do you think that overdraft used for a month or so is an issue?

Thrugelmir

If you've savings then why the need to use an overdraft? That's the question.

sturgeon

I don't. The excess money currently in my bank was from my salary and bonus and is being left there to pay for fees associated with the upcoming house move.

ed67812

I've just had a re-mortgage accepted; me and partner are always in our overdrafts after about the 2nd of the month. As long as we are in the interest free agreed part of the overdraft, then why would I take money out of interest earning savings to put my current account in the black?


When I get paid, I roughly work out what my direct debits will be that month including full repayment of cards. I then leave only enough in my current account so that when added to the overdraft amount, it will cover these outgoing direct debits. I transfer out any extra into my savings or make a mortgage overpayment. If I have an unexpected outgoing, only then will I pull money out of savings.


Can only go off my experience, but I wouldn't worry too much. Someone with excess cash in a current account (unless its one that pays decent interest) says to me that you're not using your money as best you can!

chelseablue

We applied to Halifax through a broker.

They didn't ask me for any statements, I presume because I bank with them.

But they wanted 3 months from my partner, who's with a different bank

MaebyJade

We've also made an application to Halifax using a broker and they requested 3 months banks statements for the both of us. Given what Chelseablue said, I think if you don't bank with them then expect to be asked to provide bank statements.