How to Translate Bank Statements for Mortgage in London UK

Certified Translation Requirement

When applying for a mortgage in London, financial documents such as foreign-language bank statements must be translated into English by a certified translator. Mortgage lenders are required by law to verify all financial documentation, and an uncertified translation may be rejected or cause delays in your application.

Certified translations guarantee that the content has been translated accurately and professionally. This helps lenders verify your financial history and assess your mortgage eligibility without language barriers.

Provide the Original Documents

Before the translation can begin, you will need to provide the translator with either the original bank statements or clear, high-quality copies. The translator will need all the details in the document, including:

• Account holder’s name
• Account numbers
• Transaction dates
• Transaction descriptions
• Amounts (credits and debits)

Make sure the bank statements are clear and legible to avoid any misinterpretations or inaccuracies during translation. It’s important that every detail is translated accurately, as even minor errors could result in the lender questioning the validity of the documents.

Accuracy and Detail

When translating financial documents for a mortgage, every piece of information must be replicated exactly as it appears in the original. This includes numerical figures, dates, transaction types, and any specific terminology used by the bank.

Accuracy is crucial in financial translations. Even minor discrepancies, such as incorrect amounts or misinterpreted transaction details, can cause issues with your mortgage application. The lender needs to trust that the translated version is a true reflection of the original documents.

Request a Certification Statement

Once the translation is complete, ensure that the translator or the translation agency provides a certification statement. This certification confirms that the translation is a true and accurate representation of the original document. It should include:

• The translator’s or agency’s credentials
• The date of translation
• A declaration that the translation is accurate
• The translator’s signature and official stamp (if applicable)

Some lenders may also require the translation to be notarised, especially if the documents are from a foreign bank, so check this requirement with your lender in advance.

Submitting the Translated Documents

After receiving the certified translation, you will typically need to submit both the original bank statements (in the original language) and the translated versions to your mortgage lender. Some lenders may require hard copies, while others accept digital submissions, so confirm the preferred format with your mortgage advisor.

In cases where the bank statements come from a country with different banking standards or formats, be prepared to offer additional explanations or context. Your translator may also provide a note to clarify any differences in banking terms or practices.

Verify Specific Lender Requirements

Every mortgage lender may have slightly different requirements when it comes to translated documents. Some may accept translations from any certified translator, while others might have specific criteria or approved translation services they require you to use. To avoid delays or rejections, it’s important to verify the following with your mortgage provider:

• Whether the translation needs to be notarised
• If they have a list of preferred or approved translation agencies
• Any specific format or submission guidelines for translated documents

Cost and Timeline

The cost of certified translation services can vary depending on the number of documents, their complexity, and the urgency of the request. Working with ANZ Translation UK you may rest assured that our cost of service is the most reasonable on the market. If you need the translation urgently, some agencies offer expedited services for an additional fee.

Turnaround times for certified translations usually range from a few days to a week, depending on the volume and complexity of the documents. It’s advisable to allow plenty of time before your mortgage application deadline to ensure there are no delays due to translation issues.

Conclusion