How to get a mortgage facility for your home

mortgageFiguring out the exact financial lapses that will stand out to lenders will strengthen your chances of loan approval.

Trained to spot financial mismanagement, mortgage lenders take careful time to review your finances before approving or denying you for a home loan. The role of the lender in approving a loan is to make sure you have enough money for an initial payment if required, closing costs or other fees if necessary, and to assess whether you’re able to regularly make your monthly payments. Part of how they do that is by reviewing your bank statements. That’s why it’s important to make sure all your documents and records are sorted and straightforward.

Here’s an effective checklist for you:

Lenders typically include the most recent months of your bank statements in their evaluation of your finances. Having a long list of overdraft charges in your account isn’t the best indicator that you’ll be a good borrower. No matter the circumstances, having a history of overdrafts or insufficient funds noted on your statement shows the lender that you might struggle at managing your finances.

Another red flag to lenders is when a bank statement has irregular or lump-sum deposits. This can be seen as suspect because it could appear that those funds are coming from an illegal or unacceptable source. Unless you can provide an acceptable explanation for your large deposit, it’s likely the lender will apply this to their assessment of whether you qualify for a loan.

Take extra care of your transactions for at least a few months before applying for a mortgage. Lenders want to know that the money in your account has been there for some time, not just recently deposited. One or two big deposits into your account right before applying could indicate to lenders that the money you claim to have isn’t actually yours.

At the end of the day, it’s best to start the process of organizing your bank activity and statements prior to applying for a loan. When you start looking for a home, it’s best to have your financial information sorted in case your dream home hits the market and you have to move fast.


If you keep your bank statements top of mind in the initial search phases, you may have an easier time applying for a loan and ultimately securing it. Remember: Underwriters review your accounts once more, just prior to closing. So, be sure to maintain healthy finances throughout the closing process too.

Looking to obtain a mortgage for your home today? Landwey help you secure a mortgage option now on Lavadia Homes, Westwood Nooks Homes, and Frontier Luxe homes, payable for up to 15 years. Terms and Conditions apply.

Call LandWey on 08187566666, and check out our property section on our website to get full views of the homes. For more information on the mortgage plan be sure to visit


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