Recruitment Agencies + Mortgage Application: The Challenge
As recruitment agency owner, 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 Recruitment Agencies with Mortgage Application
Convert your agency bank statements to Excel to reconcile placement fees, match temporary worker payments, and track client account balances. For mortgage application specifically, BankScan AI extracts Monthly income deposits, regular outgoings (rent, bills, loans), average balance automatically.
How Recruitment Agencies Handle Mortgage Application
When preparing bank statements for mortgage application, recruitment agencies need to Recruitment agencies invoice clients for permanent placement fees or weekly/monthly temporary worker charges, pay temporary workers via payroll or umb. BankScan AI automates the data extraction step.
Key terms you'll encounter: placement fee, temp margin, rebate period, umbrella company.
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 recruitment agencies 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 Recruitment Agencies — Mortgage Application
- Built for Recruitment Agencies — Saves 3-4 hours per week on placement fee reconciliation and temporary worker payment matching for an agency processing 50+ placements per month
- Software compatible — Output works directly with Xero, Sage, Bullhorn
- 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: Recruitment Agencies + Mortgage Application
When recruitment agencies prepare bank statements for mortgage application, specific compliance requirements apply.
- Employment Agencies Act 1973 and Conduct of Employment Agencies Regulations 2003 govern agency operations. REC (Recruitment and Employment Confederation) members face additional compliance standards. AWR (Agency Workers Regulations) affect temporary worker pay calculations. HMRC employment status rules apply to contractor placements.
- Legal basis: FCA MCOB (Mortgages and Home Finance: Conduct of Business) rules on affordability assessment and responsible lending
Mortgage Application — Built for Recruitment Agencies
Mortgage offers typically expire in 3-6 months; brokers often need documents within 48 hours to secure a rate lock
Try Free — Recruitment Agencies + Mortgage Application