Mortgage Assessment
Discussion
They normally want to see your salery being credited to the account.
To make sure what you have told them you earn is correct, its easy to fraud payslips but if they can see that actual amount being credited to your account it more than likley thats what your being paid.
To make sure what you have told them you earn is correct, its easy to fraud payslips but if they can see that actual amount being credited to your account it more than likley thats what your being paid.
Edited by Groober on Friday 26th March 09:55
We got a mortgage recently and had to go through this - they go through your accounts with a fine tooth comb. Even questioned me why I have 2 electric bill direct debits going out (I pay my parents bill as well) - I found it a bit intrusive but we got the mortgage in the end so thats all that matters.
I've supplied three years of statements before when applying for a mortgage. Things are clearly still very lax.
They are looking to check your ability to service the mortgage - do you frequently go overdrawn or test/exceed your limit? I don't see how three months of statements can help.
They are looking to check your ability to service the mortgage - do you frequently go overdrawn or test/exceed your limit? I don't see how three months of statements can help.
Road Pest said:
Welcome to checking affordability and responsible lending.
That won't catch on if Labour win the next election. In October when we bought our house Natwest told me I didn't need to send them anything as they would look at my account with them to asses my salary etc, my account with them is an ISA and my salary is paid into another bank, they didn't seem to care about that bank so asked for wage slips instead (As I process our payroll I could quite easily have doctored the wage slips to send to them but thought that might be more than a little bit wrong). They couldn't give a monkey about your transaction to arseticklers.com.
What they want to see is what goes in and what goes out in a typical quarter/month, and if there are any irregular payments in or out that they might ask you to explain. Basically that what goes out, plus the monthly repayment on the mortgage is less than what is coming in by a comfortable margin.
It's standard practice. Don't worry.
What they want to see is what goes in and what goes out in a typical quarter/month, and if there are any irregular payments in or out that they might ask you to explain. Basically that what goes out, plus the monthly repayment on the mortgage is less than what is coming in by a comfortable margin.
It's standard practice. Don't worry.
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