Bank Statement Evidence for Mortgage

Siarad Posts: 14
First Anniversary First Post
edited 31 October 2023 at 10:45AM in Mortgages & endowments
I am hoping to apply for a new mortgage shortly (currently have one on the property I have lived in for 15 years) and wanted some more information on how their review of bank statements work.

My current financial approach is to somewhat overbudget on everything (anticipating more cost of living raises) and then to put the 'change' each month into a savings account.  I also tend to split my surplus across different savings account.

My question is, if the mortgage company would want to see me having surplus money on my bank statements (to prove I could afford a slightly higher mortgage), would they be able to see that these are savings accounts that my surplus is going into and that they're not being spent (most of my savings accounts are with the same bank)?  Should I pause putting money into my savings for a few months and leave it in the current account so that it doesn't look like it's going out, or does it not make a difference?

Anything else I should be conscious of with my bank statements?  


  • amnblog
    amnblog Posts: 12,386
    First Anniversary Name Dropper Photogenic First Post
    No need to stop what you are doing
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • DullGreyGuy
    DullGreyGuy Posts: 9,055
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    Payslips only show what you are earning, how it's made up (salary, overtime, commission, bonuses etc) and how stable it is. This validates what you've stated your income is and clearly money coming in as base salary is preferred over more variable items like bonuses.

    You seem to be going on about your budgeting process and savings accounts which have nothing to do with your payslips. 
  • Nationwide only asked us to provide payslips, we were not asked for any bank statements.
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