27 Oct 2021

Lenders to intensify scrutiny of bank statements

From Lately, 10:30 pm on 27 October 2021

Shoes, coffee, petrol, KFC.... Typically your bank statement is not the sort of thing you want people reading, but come December the banks will be doing just that - going through your statements - and judging you.  From the 1st, under the Credit Contracts and Consumer Finance Act, banks are required to actively review your information in more detail before granting you a home loan - adding to the list of obstacles already in your way.  Financial Advisor, Chris Rapson explains what's in store.

An iphone screenshot with "beer" and "pizza" scrawled over a bank statement

This isn't how to track your spending Photo: Unknown