Precise Mortgages bank statements

Suzuka96

Hi we have recently had a htb aip from precise and fell into tier 1. Now when we come to full app I know they will be looking at three months bank statements with a fine tooth comb. Now obviously at the moment these statements will cover the dreaded Christmas splurge and oh was a bit reckless and went over his o/d limit last month (its was £1000 but due to some savings and him being extra careful we have reduced that to £59 this month).

So my question is what sort of things are they looking for on the statements ? If everything else is in order how much does the statements matter. There is nothing dodgy on them just we have not been best prepared and living up to our means for last few months.

Thanks

jessnat995

I've just had offer from Precise.

I think they look for return of money. Gambling, if our keep with in ypur means.

They may ask what the reason was why it happened.
Not sure.

David_White

If I was submitting a case to Precise and there was an instance of someone going over their overdraft I would get on the front foot and tell them not only that it's there by why.

Within reason a bank statement doesn't have to be immaculate, albeit things like the above obviously aren't ideal.

Make sure your Broker is on top of it and I'm sure you'll be fine.

Suzuka96

Just realise oh overdraft sounds worse than it was - he went over his od limit by about £60. It was £1069 and now we have it down to £69 overdrawn

Dizzy88

Hello suzuka96!

I'm feeling exactly the same as you about my bank statements. We submitted full app 3/3. Hard credit check 6/3. They've since requested bank statements, p45 for myself as recently changed teaching jobs. Letter from my current employer confirming permanent. Also p60 I think for myself and my husband. My bank statements also aren't in best shape- we got married Aug 16- honeymoon Nov 16- then Christmas! In Jan and Feb I had to transfer £300 from my sole overdraft which isn't used much to the joint account as we don't have an overdraft at all on joint. Had to also transfer £20 in Feb to it! Come march we're absolutely fine but they obs won't see march statements! Mum paid over draft off this month as belated xmas present! So stressful isn't it- I feel your anxiety over the bank statements, it's the thought of not knowing how they will perceive things. Even though Christmas is a time when lots of familiies are skint in Jan!

Suzuka96

Any update dizzy

Dizzy88

Hi Suzuka,

Precise got back to us on Wednesday after having: 3 months bank statements, p60 for both of us, p45, letter from my employer confirming permanent post as Jan 2017, landline phone numbers for employers. They have now requested:
Clarity on one agency pay slip in December didn't match bank statement/ which is fine the agency have emailed Precise directly to confirm their error. Asked why my husbands salary has decreased since 2016p60/ have sent an explanation that he was working off shore and moved to on shore at home. Finally they asked- was i employed from Sept- beginning of Nov. I was however there was an 11 day period beginning where I was awaiting a CRB return. Then another break for school holidays. I am worried sick they will count this against me for continuous employment. Prior to this I was a permanent position for 4 years and employed from Nov 3rd with current school.

What about u Suzuka? Any news? Where are you to to with application?