Halifax Mortgage Bank Statements

LouisB1992

Hi all,
My partner and i are first time buyers and recently had an offer accepted on a house after agreeing a MIP.
Over the lockdown period; I have been keeping physically active by taking up golf and I have played up to 3 times a week and even purchased some new clubs and shoes.
Also, I have had more time on my playstation and purchased a few new games and bought the occasional £10 voucher for downloadable content.

I have no credit card, no payday loans and no overdraft as I know how to look after my finances. The only loan I pay for is car finance which was declared on MIP.

2 questions:
1. Do halifax require 3 months bank statments for a mortgage? I have seen some sites say that Halifax are one of a few who simply go off credit score (mine is good, partner is perfect) and affordability checks.
2. Is my spending during lockdown going to impact my application? If they question it am I wrong to feel nervous?

Thankyou in advance

sharpe106

They won't care what you spend as long as when you fill in the affordability section you can afford it. But they don't ask to see your statements usually as they have other ways of checking for the information they want.

LouisB1992

sharpe106 said:

They won't care what you spend as long as when you fill in the affordability section you can afford it. But they don't ask to see your statements usually as they have other ways of checking for the information they want.

Thankyou for the reply.

I was very worried just because I had heard of these 'stress' tests and they will look at your lifestyle spending etc in which this case is higher than the norm (but I still put away roughly 40% each month into savings)

sharpe106

All the bank really cares about is getting it money back. They are only really interested in your wages, fixed bills for affordability and how much disposable income you have after that, they aren't bothered how you spend that as long as you have some.

jamielutz1987

Based on what you've said, assuming you meet affordability, I don't see anything there to worry about.

As for what documents Halifax asks for, we applied recently and all our broker submitted to Halifax were one latest payslip each for us. That's it.

This is not to say that they will not all for anything more later on.

FirstTimeBuyerLife

Hello, Have you had an update from your mortgage application to Halifax?
If not, when did you submit the application?

jamielutz1987

FirstTimeBuyerLife said:

Hello, Have you had an update from your mortgage application to Halifax?
If not, when did you submit the application?

@FirstTimeBuyerLife If you were asking me, mine went to offer the same week after a desktop valuation.

FirstTimeBuyerLife

jamielutz1987 said:

FirstTimeBuyerLife said:

Hello, Have you had an update from your mortgage application to Halifax?
If not, when did you submit the application?

@FirstTimeBuyerLife If you were asking me, mine went to offer the same week after a desktop valuation.

Congratulations!! So they approved the mortgage within a week?

jamielutz1987

FirstTimeBuyerLife said:

jamielutz1987 said:

FirstTimeBuyerLife said:

Hello, Have you had an update from your mortgage application to Halifax?
If not, when did you submit the application?

@FirstTimeBuyerLife If you were asking me, mine went to offer the same week after a desktop valuation.

Congratulations!! So they approved the mortgage within a week?

@FirstTimeBuyerLife That's right, 4 days.

FirstTimeBuyerLife

jamielutz1987 said:

FirstTimeBuyerLife said:

jamielutz1987 said:

FirstTimeBuyerLife said:

Hello, Have you had an update from your mortgage application to Halifax?
If not, when did you submit the application?

@FirstTimeBuyerLife If you were asking me, mine went to offer the same week after a desktop valuation.

Congratulations!! So they approved the mortgage within a week?

@FirstTimeBuyerLife That's right, 4 days.

That’s so good! How did your valuation go?

jamielutz1987

FirstTimeBuyerLife said:

jamielutz1987 said:

FirstTimeBuyerLife said:

jamielutz1987 said:

FirstTimeBuyerLife said:

Hello, Have you had an update from your mortgage application to Halifax?
If not, when did you submit the application?

@FirstTimeBuyerLife If you were asking me, mine went to offer the same week after a desktop valuation.

Congratulations!! So they approved the mortgage within a week?

@FirstTimeBuyerLife That's right, 4 days.

That’s so good! How did your valuation go?

It was a desktop valuation and came back for the price we are paying. I think the report returns the lower of the purchase price and what the valuer thought it was worth.