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Mortgage preparation question...?
Dolly123
Posts: 189 Forumite
We are going to apply for our mortgage in feb time but I am in the process of getting everything ready,
We both earn in the region £3-4k each per month into separate accounts he pays the rent, the car, the loan, his phone bill the sky and our credit card I pay the utility bills and the rest will it be better for all of our wages and bills to be paid in and out of one account? I assume they will want to see 3 months bank statements.
What kind of things will they flag up on the bank statements as not good? I want to make sure every thing is squeaky clean
We both earn in the region £3-4k each per month into separate accounts he pays the rent, the car, the loan, his phone bill the sky and our credit card I pay the utility bills and the rest will it be better for all of our wages and bills to be paid in and out of one account? I assume they will want to see 3 months bank statements.
What kind of things will they flag up on the bank statements as not good? I want to make sure every thing is squeaky clean
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Comments
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If lenders ask to see your bank statements. As they may not. There'll be looking for undeclared liabilities, expensive hobbies or pastimes etc. For the majority of people this therefore is nothing to be concern about.0
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I dont have any expensive hobbies, other than shopping lol
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Just going through this at the moment, separate statements are fine, just keep things consistent. Avoid going into your overdraft and don't gamble
Saving for a deposit: £11,621.15
20/25lbs
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Does the national lottery count as I do this online? I don't have an overdraft so no trouble with that lol0
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You are worrying about something that is not a problem Dolly.
You are allowed to live your life and spend money.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.0 -
haha thanks, I'm just worrying as ive had credit problems in the past coming up to 6 years ago this month so I'm just desperately to get it squeaky clean 0
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Well my default dropped off and overnight my credit score went from 617 to 987! amazing!!!0
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Sounds like you are in a perfect position to be putting an application in!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 advice0 -
You don't need to have everything coming in and out of one account. The bank statements are to prove monthly income and some lenders will look for gambling entries and how you manage your money.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Dolly. Your score went up?! My partners default fell of her file yesterday but her score went down!0
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