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Applying for a mortgage with only a Monzo current account
gbrm
Posts: 5 Forumite
Good morning all,
My partner and I both ONLY have Monzo current accounts (we also have a joint Monzo account)
We are saving and hoping to apply for a mortgage next year - are we at any kind of disadvantage having all of our money going in and out of Monzo only? Should we look to have accounts with more traditional banks?
My partner and I both ONLY have Monzo current accounts (we also have a joint Monzo account)
We are saving and hoping to apply for a mortgage next year - are we at any kind of disadvantage having all of our money going in and out of Monzo only? Should we look to have accounts with more traditional banks?
0
Comments
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Nope, you'll have access to bank statements from Monzo in PDF form for underwriters to confirm your income if they ask for it and Monzo report your account conduct to Experian and Call Credit so your credit file shows the same as just about any other standard current account.
You should be fine.
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In general it is advisable to have a second bank account with a different provider with some funds in the event that your other account gets temporarily blocked/unable to use.0
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