Mortgage and Lender questions

[Coffeeandteav]

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?

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.

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

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.

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

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.

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.