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  • FIRST POST
    harveybee
    Can an Underwriter access my bank account?
    • #1
    • 10th Feb 14, 7:43 PM
    Can an Underwriter access my bank account? 10th Feb 14 at 7:43 PM
    I am looking to take out my first mortgage in 3-4 months time and am worried gambling transactions on my bank account will count against me when it comes to the approval stage. I have no gambling transactions on my account for a month now and am going to keep it clear for the next few months. For the past few years I have had hundreds of pounds coming in and out of my account all in 10/20 transactions. I have been told a mortgage lender will usually ask for 3-6 months bank statements. If I'm taking out a mortgage with a lender who is not my current bank can the underwriter access my current account or are the just going by the statements I provide?

    Any advice would be much appreciated
Page 1
    • ConfusedofYorkshire
    • By ConfusedofYorkshire 10th Feb 14, 7:49 PM
    • 517 Posts
    • 348 Thanks
    ConfusedofYorkshire
    • #2
    • 10th Feb 14, 7:49 PM
    • #2
    • 10th Feb 14, 7:49 PM
    I wasn't asked for any bank statements at all. Just 3 payslips, proof of id and proof of deposit. It probably depends on you circumstances though
    • ACG
    • By ACG 10th Feb 14, 7:49 PM
    • 18,572 Posts
    • 10,216 Thanks
    ACG
    • #3
    • 10th Feb 14, 7:49 PM
    • #3
    • 10th Feb 14, 7:49 PM
    They will just use statements provided.

    However just be careful (RBS/Natwest for example are the same company).
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • harveybee
    • #4
    • 10th Feb 14, 8:04 PM
    • #4
    • 10th Feb 14, 8:04 PM
    Thanks for the quick reply, My current account is with RBS so if I stay clear of them and natwest for my mortgage and stop gambling this should not effect my application. Is there anything else they will look for on my statement?
    • ACG
    • By ACG 10th Feb 14, 8:12 PM
    • 18,572 Posts
    • 10,216 Thanks
    ACG
    • #5
    • 10th Feb 14, 8:12 PM
    • #5
    • 10th Feb 14, 8:12 PM
    Payday loans, unauthorised overdraft use, bouncing payments, general spending patterns - they are not looking for reasons not to lend, they are looking to ensure you are a good risk.

    So if you run a decent bank account there should be no problems.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • harveybee
    • #6
    • 10th Feb 14, 8:26 PM
    • #6
    • 10th Feb 14, 8:26 PM
    I was living in my overdraft a fair bit last year but plan to keep a tighter check on this as I'm looking for a mortgage, When I do apply I was thinking of going to Barclays as they seem to be able to lend me the most according to online calculators, Are there and lenders that are particularly good for first time buyers?
    • PeacefulWaters
    • By PeacefulWaters 10th Feb 14, 8:30 PM
    • 8,318 Posts
    • 10,683 Thanks
    PeacefulWaters
    • #7
    • 10th Feb 14, 8:30 PM
    • #7
    • 10th Feb 14, 8:30 PM
    Is there anything else they will look for on my statement?
    Spending more than you earn.

    Having less money the day before payday than you had the day before the previous payday suggests you may be heading towards difficulties.
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