Statements affordability

Sunnyseaside

Hi I'm looking at taking out a mortgage in the next few months. I'm worried about affordability how long bk do the lenders check your spending. I spent lots last year especially xmas used credit card a lot but I always payed off on time by using my savings. I have now been really careful since January by cutting down on my spending keeping food bills down etc. So have been saving and bk account looks better. My worry is that lenders will look bk and see that I lived over my budget so I'm not careful. Although it was my money and I am not in debt. Just  had a bad year and did splurge November and December. Do I need to wait another 4 months before applying? My credit score is good with a default coming off in a weeks time 

RelievedSheff

We applied recently for our remortgage with Halifax and they didn't even request any bank statements just our latest wage slips.

K_S

@Sunnyseaside Generally speaking, with no debt, your discretionary spending (groceries, gifts, holidays, takeaways, etc) should not have any significant impact on how lenders will calculate/assess your affordability.

[Deleted User]

Mainly lenders are looking for overall account management and to identify any undeclared outgoings like childcare or repaying a family loan.  Alternatively they will look for evidence of spending on child things when someone has declared 0 dependants.  

They arent looking for how much you spend at Maccy D's, they are just trying to catch the dodgy ones. 

A lot of lenders dont request bank statements and instead pass the liability of the above checks to the mortgage brokers who have the statements

jasonf90

Nationwide asked for 3 months of bank statements. I think they want them to see if your wages match the payslips and not looking at your actual spending.

Nikkihud0609

We got asked for 2 months worth from HSBC and that was just to see that the wages going in were correct as per application, weren’t interested in the stuff we spent and that was around Xmas too. 

Biscuit31

Have just had a mortgage approved with a Natwest, I wasn't asked for my statements as I bank with them but they were littered with gambling transactions, not just small amounts either as I am in a syndicate with others and my account had been used, we are talking £1K per month for 3 consecutive months.  No doubt they looked at them.  Wasn't questioned about anything.