Official Statement of Account

šŸ¤ Help
1

Hi

I am in the process of securing a mortgage for which I need to show a summary of all my assets. For this purpose I need a statement of account from T212 to show the following:

My full name
Total amount invested
(current) value of account
Dated

I donā€™t need the full list of every holding I own (I have over 100 in my portfolio).

Iā€™ve asked T212 for help with this and they just keep referring me to the monthly statement, which has already been deemed as unacceptable by the high street lender concerned.

Surely, I should be entitled to a simple statement of account with my name on it bearing in mind I have a lot of money invested with T212?

Can anyone advise?

Thanks

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2

Your monthly statement shows the number of shares allocated to each stock.
I can appreciate that you would rather see a monetary value but seen as this is variable I donā€™t see it being relevant for borrowing purposes?

Itā€™s not classed as cash savings until you sell it so would only be classed as investments.
Can you not access any more information on the desktop version?

3

Thanks but this is not for my benefit but to satisfy the requirements of a high street lender - they want to see a simple summary of funds invested and current value.

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4

i.e. what you can see easily on the app - the problem is that does not show the account holders name

5

Iā€™ve just had a look at my monthly trading statement and all the details you ask for are there?

My name is clearly at the top, the stocks opened and closed and then at the bottom the a/c summary which shows an opening and closing balance

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6

Thanks but again - I am relaying the response from the lender to this document - perhaps what is confusing them is the 10+ pages of holdings listed between the relevant info (i.e. account holder name) and the amount investedā€¦

7

Thatā€™s because it shows all your transactions for the month including price rises/falls.
Surely the closing account information at the bottom is enough?

Iā€™m pretty certain as you can sell your investments whenever you like or they could fall that you wonā€™t be able to use them to borrow against.
If itā€™s just to show your ā€œcash savingsā€ for the lender to see and not use then this statement is adequate

8

When I applied for a mortgage they only wanted my bank account and had no interest in the shares I owned.

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9

Hi

Thanks for your reply but it is ā€˜adequateā€™ if the lender accepts it - I am not using this to borrow against - but I am providing a summary of all assets of which this is one small element - in a pool of over 20 documents including other ISAs (cash and stock+shares) this is the only document that the lender is questionning based on its format, which is now holding things up

The solution here would a more simple statement of account - what I was looking for was guidance on how I can get this - rather than an explanation of how and why the lender is at fault

Thanks

10

The very last page of your account statement has your month end Closing balance.

I have never thought of using my ā€˜investmentsā€™ or need to negotiate a mortgage so seems a bit out of the ordinary.

11

What it is used for is irrelevant - itā€™s an ISA so should presumably show the same information that all my other ISA account statements do i.e
FULL NAME
ADDRESS
NATIONAL INSURANCE NUMBER
ACCOUNT NUMBER
STATEMENT OF ACCOUNT
DATE

13

Just refer your lender to the very first/last page of the trading statement, that has all the detail they have asked for.

14

I canā€™t imagine why a company would email you all of those details, its dangerous to say the least

15

I am moving property and need to show proof of my investments.

The statement needs to clearly show my name/date and amount within the last 7 days.

How do I get one or do I have to wait for e-mails?

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16

I would ask the in app help to see if they can send you a PDF holding statement as at ā€¦

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17

Did you ever manage to get this resolved? Iā€™m in a similar predicament! Arenā€™t borrowing against my investments but simply need to show my assets as part of the banks assessment of assets and liabilities. Its a real shame if you didnā€™t get this resolved as my other brokers have this monthly report as standard!

20

Could someone let us know if this is something that can be implemented in the future?

My bank in Greece offers better conditions for mortgages if I can prove that I have a certain amount in my investing accounts.

21

It is unusual because they did not ask me about any shares I owned when I was getting a loan. It was only personal data, income rates, and employment proof, and thatā€™s it. Maybe it was because I did not take a big sum of money and, in such cases, they care less. I am not sure about that, but I was still nervous when applying. I asked Mortgage Advice Hull to help me, and they did everything right. I got a loan confirmation even faster than I thought it would happen. Sometimes it is better to trust professionals than try to do everything yourself.

22

Tbh, this is a very basic request. We should be able to see (on a monthly basis) a pdf of the total value of our portfolio, not just the total amount we have invested. This function has been available on Freetrade and Vanguard for some time.

212 should really implement this asap.

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23

We do get a statement of account by email. I print that to PDF and send to my work.

You can request an adhoc report.