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Why have you asked for 3 months bank statements to clear my application for payment?

Hi there,

We sometimes ask for bank statements to pass onto the lender who’s agreed to provide finance for your purchase. The lender looks for payments going into your account which matches the income you declared on your application and also ensures that you have sufficient disposable funds to pay monthly installments for the loan.

Affordability is a major concern of the FCA and as such the lenders have to act responsibly. I hope this makes sense to you.

About The Expert

Jon Le Roux is co-founder and company director of The Car Loan Warehouse. Being a mad engineering and motorsport enthusiast, I spend more hours than is healthy, watching, reading or talking about cars, boats, motorbikes…..basically anything with an engine.