Advice for a FTB

Tcarterftb

Hello, this is my first post but I have been trawling the forums for a while!
We have decided to purchase our first house. Offer accepted last week. We've had an aip with Santander last week and the full mortgage application in aswell.
My husband is the one applying for the mortgage as I don't work, he is self employed, we've gone for a 95% mortgage. His credit is clear.. as in never had a loan or credit card. No defaults or ccjs.
My concern is his bank statements aren't great. There's alot of large deposits and large transfers to his other bank account. His work is paid cash, banked weekly and then some transferred to the other account to pay for shop bills/supplies. They just look messy! How will a mortgage lender look at this? Would it put some off? I'm literally tearing my hair out with worry as we love this house and it's a bargain! We have a MA and he said it doesn't look too bad.. feel like he was just being kind. 😩
Being a 95% LTV will they be a bit more brutal?
I've read that alot of people have had their bank statements scrutinized and turned down because of it. Anyone been in a similar situation?
Thanks

sammyjammy

Why would he say it to be kind? This is his business and he would be wasting his time if he thought the state of your bank account would get you turned down. believe in what he says and wait and see what happens, you just have to hold your nerve and be patient when it comes to applying for a mortgage.

Tcarterftb

You know when you get an odd feeling.. he said it as he was looking through but not very confidently, maybe it's just me being paranoid, thank you though. I was just wondering if anyone had a similar situation as I can't seem to find much on self employed, 95% and a non squeaky clean bank statement

muhandis

Assuming your broker (he is a broker isn't he? And not just a Santander MA?) is competent, he wouldn't put in a full application unless he was reasonably confident that your statements pass muster or that you could answer any follow up queries from the underwriter.

I wouldn't worry too much.

Tcarterftb

Yes, we've gone with a mortgage broker as most advise on here, plus we're rubbish with forms! Thank you