When you apply for a home loan, the banks will ask for several supporting documents . The ones that tend to cause the most confusion are transaction histories and statements.
A statement is either a statement you have received in the mail or can download an online statement. It must contain:
- The bank logo,
- Your full name,
- Address,
- Account number,
- Opening balance,
- Closing balance and
- All transactions during the statement period.
Here is an Example of a Statement
A transaction history is a record of all transactions in a given period and is available from internet banking.
It contains:
- The bank logo,
- The account number,
- A list of all transactions in the given period and
- A running balance.
- Note that CSV files / exported data are not accepted. Please print out a full transaction history.
Here is an Example of a Transaction History
We normally need both Statement and Transaction History for home loans, savings statements and or everyday transaction accounts to verify most recent 6 month, 3 months or last 30 days history.
Lenders will require the last 6 months history of all home loans.
Lenders will require last 3 months savings account history.
Lenders will require most recent months or last 30 days history for your everyday transaction account. This is your primary account where your pay goes into and most expenses come out of.
If the statement does not include your address & name then it is actually viewed as a transaction history by the lenders.