It can be quite intimidating to fill out a home loan application because even though it’s the “Great Australian Dream”, it’s a hell of a lot of money that you have to pay back.

But when you finally get to that point, you’ve probably spent months or years saving a lot of money for a deposit and checking every real estate website every week to find the perfect property.

Imagine going through all of this and then sitting down with the bank for a lender to tell you that your banking history is … questionable.

You would question the charge and ask what might be hiding in your statements that could delay a home loan.

Well, Domain reports that if you have sent or received money to or from your friends for things like dinner or movie tickets with hilarious captions like “coke bender” or “strip clubs” then banks can delay your request.

Chris Foster-Ramsay, senior financial broker at Foster Ramsay Finance, told the real estate website you should probably stop using wacky labels to send money.

“If that person is in the real estate market at that time, the bank says, ‘Wait, what is this? “Especially if there is $ 50 here or $ 50 there,” he said.

“[Banks ask,] “Is this adult entertainment? “… If this happens over a period of time, the bank notices it. Bank statements are a legal document. You have to be semi-serious about this. As fun as it may be, it is not advisable to be creative in the text of the transfer. ”

Credit: PA

Domain says banks will even look at how much you spend on things like UberEats or Netflix to see if you’re using your money properly.

The crackdown was reportedly triggered by the Banking Royal Commission, which looked at how some lenders distribute money to people and whether those practices need to be changed.

Fortunately, it appears that labeling transactions as drugs or sex acts won’t stop you from getting a home loan, it will only delay the process while the bank sorts out each transfer.

40Forty CFO Will Unkles also said Domain: “I have seen everything [on bank statements], from things that are quite wacky, to things that are “dinner”.

“It’s something that is going to delay the process, but it’s not something that is going to mean you won’t get a home loan.”

So the next time you plan to send a “rooster for cash” money transfer, don’t.

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