How it affects your affordability score
Lenders like to see that you aren’t making too many transfers out of your accounts each month. Linking any accounts with frequent transactions gives lenders a clearer picture of your spending habits.
Transfers out - is money sent from your account to someone (for example family, friends, tradesperson).
A transfer in - money you’ve received from someone’s bank account. It doesn’t include your salary or refunds for goods.
Maintain your affordability score
- Link bank accounts that show all your transfers in and out
- Aim to make fewer transfers out than transfers in each month