Bank checks for mortgages

E

ecstatic

Registered User
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Hi All,

Im interested in buying a house.

My scenario is such that my bank accounts have not been looking too healthy in the last while and have taken overdrawn positions.

Now i want a mortgage and am wondering what is the story ?
Say the mortgage is for 450k and my earnings are around 150k however my bank statements for last 6 months have looked terrible due to travelling etc and no money going in.

Do the banks check the statements that are given to them for another bank? IE: Do they ring up and verify the transactions?

I also have say around 60k to use as a deposit but am unsure will the bank complete a loan for the amount i am looking for?

If they do not do they check the amounts in the accounts?

Any information appreciated thanks!
 
Hi ecstatic,

We had to provide 6 month's bank statements to our broker from the begining of the application process. However, I'm not sure what you mean about verifying the statements - statements are official documents, so they might not need verification.

Our broker did say that regularly going overdrawn (unless an approved o'draft) will adversely affect your chances.

I'm not sure whether banks can just call other banks, but they would look at your credit rating.
 
ecstatic said:
Say the mortgage is for 450k and my earnings are around 150k however my bank statements for last 6 months have looked terrible due to travelling etc and no money going in.
Click to expand...

Something does not add up : your earning are €150k per annum, but no money coming in hense not so nice looking bank statements.

May be you could explain a bit more?
Are you self employed?
 
ecstatic said:
Hi All,

Im interested in buying a house.

My scenario is such that my bank accounts have not been looking too healthy in the last while and have taken overdrawn positions.

Now i want a mortgage and am wondering what is the story ?
Say the mortgage is for 450k and my earnings are around 150k however my bank statements for last 6 months have looked terrible due to travelling etc and no money going in.

Do the banks check the statements that are given to them for another bank? IE: Do they ring up and verify the transactions?

I also have say around 60k to use as a deposit but am unsure will the bank complete a loan for the amount i am looking for?

If they do not do they check the amounts in the accounts?

Any information appreciated thanks!
Click to expand...

as long as the overdraft is approved its not a problem , mine didn't go above 0 for the 12 months before I got mine...

you work history won't allow for a 100% mortgage, but you have a deposit so that won't be a problem..

as long as you are not on any type of probation at the job I don't see any problem here...
 
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