Mortgage application- bank statements question

RRS1999

Hi there 

we have sold our house and we have put in a mortgage application with Kensington (2 satisfied CCJs from 4 years ago that’s it)

we have a 20% 50k deposit on a 250k property and combined we earn 63k with no other debts 

we have sent our bank statements however because of Xmas and a couple of January birthdays there are some nights out 

We never miss a payment or go into a overdraft and everything’s paid on time 

can you advise if these night out will have a detrimental impact on the application?

[Deleted User]

Not unless you bought drugs and prostitutes with your overdraft money.

No one really cares what you spend your own money on.  They are checking bank statements for hidden loans and/or addictive spending habits like large scale gambling and chasing losses

RRS1999

Thanks lol

was very concerned as we didn’t save in December (because of Xmas) or Jan (birthdays/ also Xmas) everything paid on time though however February we saved, we able to save 1k and March will be £500

Hopefully they aren’t too negative and reject on December or January 

mah0109

We’ve just had our valuation instructed after applying with Kensington on Friday.
like you, I was a bit concerned over Christmas spending but my understanding is that they only instruct a valuation after an initial assessment so fingers crossed they’ve not picked up on any issues.

RRS1999

That sounds promising 

can I ask how did you know they have instructed a valuation, we’ve gone through a broker so would Kensington make the broker aware ?

mah0109

RRS1999 said:

That sounds promising 

can I ask how did you know they have instructed a valuation, we’ve gone through a broker so would Kensington make the broker aware ?

It was actually our new build developer that told us a surveyor had visited to value the plot.
Our mortgage brokers initially told us one was being arranged but Kensington must have forgotten to mention it to them