Mortgage checks

[Rani123]

So we'll be looking for a new home soon and both my and my husband have savings in a shared account.

My question is what checks do mortgage lenders carry out? I have a separate bank account with savings from before I was married and no one knows about.

Do I need to declare this? Would they find out anyway? It's been there and never been used and want to keep it that way as long as possible.

Any advice most appreciated

You will need to declare everything that is asked of you and it’s fraud not to. Statements from all bank accounts are usually asked.

They asked us for 3 months worth of statements from our joint account and our personal account. They didn’t ask for a savings account statement (unless that’s being used as proof of deposit which yours isn’t)

I don’t think you have to declare the extra savings account.

I highly doubt you’d have to mention it. We had to show statement from our joint savings (the deposit money) and statements from our current accounts, I have my own savings account and that was never included in the checks. It would be more concerning if you had debt you were trying to hide

Maybe talk to your broker separately and just ask if it's necessary to include as its not money that is involved with the purchase? Just make it clear you don't want them to share this detail with your husband.

Fwiw when dh and I sold and bought our homes last year all we needed as pps have said is 3 months from our current accounts and credit cards as we were using some equity to clear them.
We didn't need to provide savings account details as the money in that account had nothing to do with either sale or purchase, plus the current accounts showed the movement to savings.

You only need to declare things relevant to the affordability of your application. So you need to have proof of the funds you will use to buy, plus show bank account statements covering your incomings and ourgoings for your monthly payments. You don’t need to declare a secret savings account, all that account means is that you are a safer bet for the bank. I have loads of savings accounts and only showed the ones I needed to to prove we had the deposit,

It’s unlikely to be asked of you, so I just wouldn’t mention it if the funds aren’t being used for this purchase.

Thanks, it's not an account we will need to use. We have a joint saving account and I do have a separate current account where my wages and all other in and outgoing are from, which I'm fine to provide the statements from