Mortgage Brokers + Mortgage Application: The Challenge
As mortgage broker, preparing bank statements for mortgage application is a common but time-consuming task. Mortgage lenders require 3-6 months of bank statements to verify income and assess affordability. Manually organising these statements is time-consuming for both applicants and brokers.
How BankScan AI Helps Mortgage Brokers with Mortgage Application
Instantly convert applicant bank statements to Excel to verify income, identify regular commitments, and prepare affordability summaries. For mortgage application specifically, BankScan AI extracts Monthly income deposits, regular outgoings (rent, bills, loans), average balance automatically.
How Mortgage Brokers Handle Mortgage Application
When preparing bank statements for mortgage application, 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 3-6 months of statements, though some lenders request 12 months for self-employed applicants of statements for mortgage application.
AI extracts what you need
Our AI extracts Monthly income deposits, regular outgoings (rent, bills, loa — formatted for mortgage brokers workflows.
Complete your mortgage application work
Download Excel files ready for mortgage application. Chronological with income highlighted, ideally with monthly summaries showing total credits, total debits, and closing balance per month
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Mortgage Brokers — Mortgage Application
- 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 Mortgage Application — Convert your bank statements to clean Excel spreadsheets that clearly show income, regular outgoings, and spending patterns — exactly what mortgage lenders need to see.
- Key data extracted — Monthly income deposits, regular outgoings (rent, bills, loans), average balance, gambling transactions, overdraft usage, buy-now-pay-later payments
Compliance: Mortgage Brokers + Mortgage Application
When mortgage brokers prepare bank statements for mortgage application, 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: FCA MCOB (Mortgages and Home Finance: Conduct of Business) rules on affordability assessment and responsible lending
Mortgage Application — Built for Mortgage Brokers
Mortgage offers typically expire in 3-6 months; brokers often need documents within 48 hours to secure a rate lock
Try Free — Mortgage Brokers + Mortgage Application