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    • dozzer
    • By dozzer 10th May 18, 11:20 AM
    • 16Posts
    • 5Thanks
    dozzer
    Worried about bank statements
    • #1
    • 10th May 18, 11:20 AM
    Worried about bank statements 10th May 18 at 11:20 AM
    Hi,

    I am looking into getting a mortgage very soon as a FTB. And I know I will need 3 months bank statements.

    Reading around it worries me that certain things may affect my application, for example as I am living with parents I save up and also have fewer bills in the meantime. So I have had extra income, problem is I have been playing around on sky or Ladbrokes betting sites. I only do this as I have the extra cash at my disposal so have a bit of fun. And I have never went into arrears or spent what I couldn't afford to and likely won't be using it mush should I need my cash for a home and bills.

    I just worry now that it may look bad when I take my statement into the mortgage advisors or will it be ok as I have been living within my means without overdrafts or arrears and also saving up alongside my spending in order to reach my deposit?

    It's was never a thought I had that it may affect me as I was never overspending but reading things online have worried me a bit that it may create a dim view and affect me.
Page 1
    • Pixie5740
    • By Pixie5740 10th May 18, 12:31 PM
    • 12,401 Posts
    • 17,623 Thanks
    Pixie5740
    • #2
    • 10th May 18, 12:31 PM
    • #2
    • 10th May 18, 12:31 PM
    Not all lenders ask to see bank statements.
    • FTBNow
    • By FTBNow 10th May 18, 12:39 PM
    • 94 Posts
    • 53 Thanks
    FTBNow
    • #3
    • 10th May 18, 12:39 PM
    • #3
    • 10th May 18, 12:39 PM
    My partner uses Skybet, we are currently in the final assessment of the underwriting process and the transactions haven't been queried: I'm talking the odd £5-10 every Saturday or Sunday. I'm guessing as long as it doesn't look like you have a huge gambling habit then you should be OK.

    Also: don't read things on the internet! I'm the same as you so empathise completely, but trust me: sleeping at night is much better.
    My goals:
    1 x iPhone finance to pay off by July. Current balance: £628.
    4 x NSD’s per week
    • dozzer
    • By dozzer 10th May 18, 2:34 PM
    • 16 Posts
    • 5 Thanks
    dozzer
    • #4
    • 10th May 18, 2:34 PM
    • #4
    • 10th May 18, 2:34 PM
    Thanks, I won some money one month and put it all back in and just thought it might look bad, it's about £200 of deposits but I hope it will be seen I wasn't in any bad way regarding my balances.

    I know ow I shouldnt read all I see online and take as gospel haha...I just want it all to go well !!!55357;!!!56842;
    • FTBNow
    • By FTBNow 10th May 18, 2:39 PM
    • 94 Posts
    • 53 Thanks
    FTBNow
    • #5
    • 10th May 18, 2:39 PM
    • #5
    • 10th May 18, 2:39 PM
    Of course: but you'll honestly drive yourself daft. I've read horror stories about people supposedly being declined due to spending a lot on Starbucks, Costa and so on. All a load of rubbish. I'm sure underwriters know that more expendable income = more frivolous purchases and that spending will be curbed once you have a house to pay for. It's the unexpendable (not entirely sure that's a word!) income that determines affordability: debt, expected bill amounts for the house and so on.
    My goals:
    1 x iPhone finance to pay off by July. Current balance: £628.
    4 x NSD’s per week
    • Smevchenko
    • By Smevchenko 10th May 18, 10:45 PM
    • 80 Posts
    • 25 Thanks
    Smevchenko
    • #6
    • 10th May 18, 10:45 PM
    • #6
    • 10th May 18, 10:45 PM
    I had the same worries, application went in towards the end of March, sent off 3 months bank statements which contained about £250 0f deposits into bet365, mostly £5 and £10 amounts, so plenty of transactions. I did manage to have the last 7 weeks on the statements clear from any betting as we were planning to apply for a mortgage, but then the right house came up, so couldn't wait another 5 weeks.

    As it happens, not a word has been said about them. Maybe they took it into account with regards to affordability, but they came back and said we could lend the amount we wanted, so here we are, completing tomorrow!

    I wouldn't worry, but i suppose not all lenders are the same. The main thing is, you haven't mis managed your account by using an overdraft etc.
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