Mortgage Brokers + Annual Company Accounts: The Challenge
As mortgage broker, preparing bank statements for annual company accounts is a common but time-consuming task. Preparing annual accounts for Companies House requires reconciling a full year of bank transactions. Many small companies still rely on PDF statements from their bank.
How BankScan AI Helps Mortgage Brokers with Annual Company Accounts
Instantly convert applicant bank statements to Excel to verify income, identify regular commitments, and prepare affordability summaries. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Mortgage Brokers Handle Annual Company Accounts
When preparing bank statements for annual company accounts, mortgage brokers need to Mortgage brokers request 3-6 months of bank statements from applicants, review them for regular income deposits, identify committed expenditure such a. BankScan AI automates the data extraction step.
Key terms you'll encounter: affordability assessment, committed expenditure, income verification, debt-to-income ratio.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Full financial year (12 months), aligned to the company's accounting reference date of statements for annual company accounts.
AI extracts what you need
Our AI extracts Opening and closing bank balances, total income received, ca — formatted for mortgage brokers workflows.
Complete your annual company accounts work
Download Excel files ready for annual company accounts. Full year reconciled to the nominal ledger, with month-end balances matching bank reconciliation statements, ready for trial balance extraction
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Mortgage Brokers — Annual Company Accounts
- Built for Mortgage Brokers — Saves 30-45 minutes per mortgage application on statement review, which adds up to 5+ hours per week during busy periods with 8-10 applications in progress
- Software compatible — Output works directly with Mortgage Brain, Twenty7Tec, Excel
- Built for Annual Company Accounts — Convert your full year of bank statements to Excel for fast reconciliation, trial balance preparation, and Companies House filing.
- Key data extracted — Opening and closing bank balances, total income received, categorised expenditure, inter-company transfers, director loan account movements, dividend payments
Compliance: Mortgage Brokers + Annual Company Accounts
When mortgage brokers prepare bank statements for annual company accounts, specific compliance requirements apply.
- FCA regulations require mortgage brokers to conduct thorough affordability assessments under MCOB rules. They must verify income sources against bank statements, document their analysis, and retain records for at least 3 years. Anti-money laundering checks require scrutiny of the source of deposit funds.
- Legal basis: Companies Act 2006 sections 394-397 (duty to prepare accounts) and sections 441-453 (filing requirements and penalties)
Annual Company Accounts — Built for Mortgage Brokers
Accounts must be filed within 9 months of the accounting year-end for private companies; late filing penalties start at 150 GBP and escalate to 1,500 GBP
Try Free — Mortgage Brokers + Annual Company Accounts