Bank statement information

Acy173

Was just curious if banks will do kind of an interview of what was this payment for? Etc. with myself and my partner. Or do they review them independently? Nothing to hide finically,just some transactions may raise an eyebrow or two. let’s just say more awkwardness between information we’d rather not reveal to others. For example buying sex toys. I suffer from high anxiety so this would send me through the roof trying to explain

marcmc84

Depends how much you are spending I guess. If its multiple transactions for same company then they might ask. Normally these types of companies use a different name that's not so obvious on your statement what you are buying.

Acy173

That!!!8217;s fine majority of my recent statements are void of these kind of transactions . I just hope they don!!!8217;t ask about me being a load of football stickers either haha.
Is it normal that they do ask questions or is it just a case of if there!!!8217;s an anomaly they!!!8217;ll question it. Only other thing I!!!8217;m worried about is a night out I had, first one in months, but transactions seem high as we were doing rounds would that be questionable.
I!!!8217;m probably already going into over thinking of everything

SensibleSarah

It's been a while but my broker handled all of that and I didn't speak to my lender in person until much later in the process. My broker asked me to clarify a few regular payments e.g. my football season ticket that I paid over several months but one-offs or smaller regular outgoings weren't mentioned.
Don't worry about one big night out - there could be a red flag if you regularly spent £100s on betting websites, but a few rounds of drinks as a one off wouldn't be an issue.
I had to give 9 months of statements (this was just after the credit crash so cautious wasn't even the word) so they could easily see what was a one-off and what were repeated payments.

marcmc84

They are mainly looking to verify your income and your outgoings match with what you have told them. If they see a loan payment you haven't declared they would most likely question it. They also want to see that you can manage your money and not frequently going overdrawn. Buying your toys and few nights out would be your disposable income.

Lauralou79

We were with natwest and all they queried were a couple of regular payments such as my rent, as we had no 'debts' So clarifying that and our incomings etc. They didn't seem that interested in day to day spending, though my friends went with HSBC and they were queried on budgets and spending more than we were . So it will vary lender to lender.

LRmortgage

Most lenders won!!!8217;t care, some won!!!8217;t even ask for bank statements. If you!!!8217;re that concerned, see a broker and ask them to place your case with a lender that doesn!!!8217;t routinely require bank statements to be submitted.

amnblog

You are allow to buy anything legal and do anything you want with it.

Lenders ask for bank statements to:

Ensure income matches payslips
See if account is kept in the black or within OD limits
See if there are any returned payments
See if unexplained large sums are going in and out
See if payments are being made regularly that could indicate Undeclared loans

No-one will be interviewing anyone and going through the Bank Statements item by item.

Samsung_Note2

Acy173 wrote: »

Was just curious if banks will do kind of an interview of what was this payment for? Etc. with myself and my partner. Or do they review them independently? Nothing to hide finically,just some transactions may raise an eyebrow or two. let’s just say more awkwardness between information we’d rather not reveal to others. For example buying sex toys. I suffer from high anxiety so this would send me through the roof trying to explain

Id serious suggest buying some..then the high anxiety might just melt away and be replaced with...cor blimey guvnor that hit the spot make no mistake.:D