Mortgage team not looking for bank statements

[Herewegoagain5]

We are applying for a top up mortgage and on the online form the are asking for all bank account numbers, sort codes, branches, if they are in credit or overdraft, account balance and if the account will be used for the mortgage.

Is this normal? what will they do with this information. Im a SAHM and have very little in my account, less than €10 at the moment as i use joint account.

Yes this is very normal - standard procedure. They are looking to see if the repayment is going to be affordable for you.

How do they verify the account balance is correct? Do they just take our word for it?

You usually have to print out so many months of statements from all accounts. In my experience anyway.

This is probably just preliminary info gathering then they might ask to see bank statements of your main accounts.

thats what we had to do for the original mortgage but now they are just asking for bank details and account balance

This sounds like the basic affordability they do at the start. They will definitely ask for bank statements before your further advance is approved.

ok great thanks, we used a broker for our original mortgage and they requested bank statements from the start so this was just new, I wonder if they will even need mine as it wont be used in the mortgage payments and we have more than enough in our joint account, savings and DH account

They will probably want to see your personal current account statements to confirm that you don't have any massive outgoings or any unusual banking activity that could suddenly draw on the finances that are going in and out of the account used for your mortgage.

Yes they will definitely ask for your bank statements to make sure you don't have any big payments you haven't declared like car finance, loans, large payment for childcare etc. Doesn't matter if you have a million in the bank and only borrowing 10k. You could use your savings tomorrow and then default ok the loan.

I re mortgaged last year. They only asked for a bank statement of the account my salary went into, They wanted to validate how much I was being paid, but they didn’t ask to see statements of any of my other accounts where all my outgoings actually came out of.

That surprised me. Last time I applied for a mortgage they went through my statements with a fine tooth comb, asking what is this £20 for, what is that £15 for etc etc. This time they weren’t interested in any of that.

Im unemployed so dont have a salary, only thing that comes into my account is childrens allowance and majority of that gets transferred into the joint account to pay for the kids activities. the rest i spend on mundane things like amazon or temu