mortgage affordability panic

Petek007

Hiya, mortgage application jitters and I need some advice, reassurance!

Basically I am adding my name on the mortgage with my sibling, so hence a new remortgage application.  I sent them my payslips and this was ok, but they sai they needed my bank statements so they can match my payslip entries to the same money coming in to the account (make sense, so far).
I have provided them with what they need, but I am panicing as the past 3 months or so, I have overspent £200 each month more than my income, due to various one off payments such as private healthcare, paying the credit card off etc. I do have 10K savings in the same account that acts a buffer. Surely, this is normal in life though from time to time.
My panic is that what if they notice that I have overspent past few months, will this be a  problem, I have already passed the illustration application stage, but not had an offer as of yet.

I am paranoid that they are watching my every move and scare to buy evena sandwich form the shop as they might think I am spending recklessly.

Am I over reacting?

kingstreet

Most lenders use bank statements as a check on net income matching payslips and for undisclosed credit. Normally, spending your own money is your business.

Petek007

i get totally get that spending my own money is my business. However if the past 3 months shows that I have overspent £200 each month more than my incoming pay (i.e. gone into my savings), then that is a poor sign right? These expenses were one off expenses such as yearly car insurance at £400 ,  private healthcare appts (not going to be a regular thing), that amounted to £600 , paying off my recent holiday i.e. £600 to my credit card. My bank account states a running balance of around 10K, so surely they see that as a good thing??

Will they start to nitpick and not take any excuses?

housebuyer143

Petek007 said:

i get totally get that spending my own money is my business. However if the past 3 months shows that I have overspent £200 each month more than my incoming pay (i.e. gone into my savings), then that is a poor sign right? These expenses were one off expenses such as yearly car insurance at £400 ,  private healthcare appts (not going to be a regular thing), that amounted to £600 , paying off my recent holiday i.e. £600 to my credit card. My bank account states a running balance of around 10K, so surely they see that as a good thing??

Will they start to nitpick and not take any excuses?

Humans look at the applications, not a computer. As long as you are not in the red I don't think it will have any affect, especially because they can see they are not committed outgoings.