Proof og Deposit

eco21

* Proof of Deposit - sorry not og *

Hi,

When giving proof of deposit - so they just need a printout of your Bank Statement or do they check via bank directly?

I am in the process of buying a house and require a deposit of £14K - I currently have in my bank £13K but will be getting two more pay's before I have to pay the deposit,

I will have the deposit and a £1K or so extra after bills etc but I am worried that this looks bad; as you should have contingency funds etc

I have another bank account with a £2K overdraft limit - should I temporarily transfer money in - just for a few days to show I have enough deposit and not stretched. Also if I dump in £2K - do I have to prove where it came from?

Ended up paying out more in extra fees and that ate up some of the contingency I had planned,

Thanks

tiggerjj

I only had to prove my deposit to the EA (to have my offer taken seriously) and i think the sol asked as well. Both accepted a print screen from my online statment.

Not sure if it is the norm, just my experience

eco21

yeah,

both said a printed screenshot was fine - dont know if transferring some overdraft money in would be a good idea - or would they realise this and go against me as in my overdraft of another account

Milliewilly

If you can find a trusted friend or family member who banks online with the same bank as you get them to transfer £1000 in - print the screen off then transfer it back immediately to them? If its HSBC it shows instantly and its free.

eco21

Hi,

I dont have anyone from same bank - could i just do it as in cash, from one bank to another,

I have heard they run another credit check at the end before they release the funds and the £1000 in my overdraft will look bad and further will not get it

Milliewilly

eco21 wrote: »

Hi,

I dont have anyone from same bank - could i just do it as in cash, from one bank to another,

I have heard they run another credit check at the end before they release the funds and the £1000 in my overdraft will look bad and further will not get it

This is why you shouldn't dip into the overdraft.

Theres no reason why you can't do it in cash but it may take a day longer to show and you will have to physically do the transactions at the bank?

Another (more expensive) way is to draw the cash on your credit card - pay in at the bank, print statement off and then draw it out and pay back onto the credit card on the same day?

eco21

Hi,

I have a 0% credit card from the same bank as my current account, could I do something like that?

mbga9pgf

Milliewilly wrote: »

If you can find a trusted friend or family member who banks online with the same bank as you get them to transfer £1000 in - print the screen off then transfer it back immediately to them? If its HSBC it shows instantly and its free.

There is a much easier way. Save page was HTML, drag into notepad and change the balance from -1200 to whatever you like. The fact it's fraud is neither here nor there of course ....

eco21

I had thought about that but thinking the repercussions of that are worse than temporarily using an overdraft,

i only have to give it to sol and mortgage broker - not to lender so dont know what checks they do on it

Den

We were requested deposit proof by Abbey and this had to be statepments/printouts from online banking.
I was in overdraft during completion. I think as long you didn't miss any monthly credit card payments and paid in full, overdraft is not matter. Also, I had money in 4 banks for deposit, and don't believe they could check this.

Good luck.

Cezzabelle

Hi
Im in same position- buying a house and need another pay day or two to get the full deposit. I think they just need to see that you are well on your way. You will have provided proof of income and monthly financial commitments already/at the same time, so the fact you are £1000 down with 2 paydays to go wont matter if your sums add up and its obvious you will have enough. We need £12,000 and only had £10,000 at the time we had to provide proof of deposit.
Hope that puts your mind at rest