Regular savings for Mortgage Approval

2Clueless

Registered User
Messages
76
Despite having good savings built up over 17 years of working and a permanent job, my application for Mortgage approval was hampered by my lack of being able to show regular savings. I let savings build up and then fix a lump sum. I’m hoping to buy in the next year and am going to lodge a set amount into my credit union account every month-will that be evidence of regular savings or do I have to open a regular savings account.
 
Proving to a bank that you have a habit of saving each month/frequently, does not need to be via an account called a regular saver account, you just need to be able to prove regular/monthly deposits.
 
Back
Top