bank statement

[colere]

we are applying for mortgage and we have reach the stage where all they need is our bank statements but both our bank statement have charges for un paid dd and un paid cheques. also we have our balances in debit.
do you think this will have effect on the mortgage? the valuation has been done only our bank statement remains for the formal offer

[khana]

I'm afraid to say that this will definately have an effext on things. The purpose of the Bank looking at your statements is to confirm the income and expenditure you have provided to them on the application form. While I dont know the details of your existing rent/mortgage, the fact your accounts are overdrawn and having items returned does not inspire confidence that you will be able to afford any new committments, well unless your new mortgage would be less then your current mortgage or rent.

Every Bank is different however, but as i've been working as a credit manager for the last 10 years, that sort of thing remains regardless.

I would suggest that you write full details of your situation to go along with your statements and explain what was happening, that can only help as they will assume the worst otherwise.

Good luck.

 

[Uzoma]

If all that is left is the formal offer, I think all that the worst that can happen now is that you might be declined.  However, if your mortgage adviser is not going to see any surprises on your statements then it's not all bad.  Hopefully, you should have told your adviser the state of your account beforehand. The main thing your adviser may want to see is affordability. So if, you said that you can afford �1,000 and your account shows that it's practically �600 then really (in a sense for your own protection) the adviser may not lend you more than you afford.

[ianess]

You`ve got to be honest about your situation or else you`re on a hiding to nothing.  A lender will make an honest assessment of your finances while weighing up the risks to themselves.  If you meet their criteria then good and well, but if not perhaps you should question yourself about the reality of the problem.

Hope all goes well but prepare Plan B just in case.

[parkin]

We currently have a mortage in both names cope and kersey we are going to get married and change our name to parkin-cope how do we change our deeds and mortage please