Why do mortgage advisers ask for bank statements?

The simple answer: to prove your income and expenditure.

A mortgage lender will ask for at least 3 months bank statements for all the bank accounts you hold.

We will use your bank statements as part of our fact finding process. We use the information to assess your affordability, ie, how much do you get in and how much do you spend. Mortgage affordability is a big deal, it is our way of making sure the mortgage we recommend to you is affordable.

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There are several things that your mortgage broker and the mortgage lender will look for, we have covered the key areas below.

What is mortgage affordability
What do lenders look for on my bank statements
Why do I need to prove my deposit