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 donāt need the full list of every holding I own (I have over 100 in my portfolio).
Iāve 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?
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 donāt see it being relevant for borrowing purposes?
Itās 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?
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.
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¦
Thatās because it shows all your transactions for the month including price rises/falls.
Surely the closing account information at the bottom is enough?
Iām pretty certain as you can sell your investments whenever you like or they could fall that you wonāt be able to use them to borrow against.
If itās just to show your ācash savingsā for the lender to see and not use then this statement is adequate
Thanks for your reply but it is āadequateā 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
What it is used for is irrelevant - itās 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
Did you ever manage to get this resolved? Iām in a similar predicament! Arenāt 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 didnāt get this resolved as my other brokers have this monthly report as standard!
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 thatās 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.
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.