Mortgage and Lender questions

(7 Posts)
Coffeeandteav Thu 15-Apr-21 18:58:33

Have any of you applied for a mortgage in the last few years and had questions asked based on your bank statements?

What did they ask?

They have asked me why my parents transferred me £200 as I also got paid on the same day and transferred quite a bit to savings. They asked if it was a deposit contribution. It wasn't, it was towards a broker fee. The broker ended up being none fee paying so it wasn't needed and my parents said I could keep it towards solicitors fees.

Now I am panicking I will be declined.

Anyone else had questions like this?

OP’s posts: |
spikyplants2021 Thu 15-Apr-21 19:24:21

Hi op, your explanation sounds fine. I think deposit contributions (maybe above a certain level) have to be declared, I know I had to provide a letter stating X amount was being gifted to me.

I got questioned over why I had gone overdrawn twice and had to explain how it happened and that I had now had text messsages to alert me, and I got approved.

orangegina Thu 15-Apr-21 19:27:12

I think I had to provide a letters from my parents as they gave me money to cover stamp duty. The letter was to state they have no claim of ownership

Coffeeandteav Thu 15-Apr-21 19:28:55

Thanks for your reply. My parents are gifting me a few thousand but that is declared.

I didn't even think of this £200 as part of that. It was just sods law the house application came up on the same day as pay day.

OP’s posts: |
Pomped Thu 15-Apr-21 19:30:00

They ask questions to ensure they fully understand your regular income and regular financial commitments and also to prevent money laundering

Boph Thu 15-Apr-21 19:30:54

DS bought a house recently, we had given him the deposit but it was a year earlier. They only asked for proof of funds and because the money had been in his account a year there wereno questions asked.

LividLiving Thu 15-Apr-21 19:31:52

I had £1000 of estate agent fees questioned as to whether it was a regular direct debit.

Um, nope, it was cheaper to pay it upfront. Once.

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