Deposit terms - Freeing up assets

monkey-fingers

Hi all, we're new here, but avid readers.

We're looking at getting back into the housing market (we've been out a while). We put our savings over the years into usable things - like a camper van, company shares and so on. We're possibly about to liquidate those assets to use as a deposit so that we can get a mortgage for around £115k (shouldn't be a problem financially - we have a combined income of around £70k and combined debts under £10k)

What sort of checks are a bank going to do on us? I mean we have little evidence of saving in a bank account although we regularly pay into company share schemes and individual shares. Are they going to find it odd that money just "appears" in our account?

Anyone else had this before? When I got my first mortgage years ago, banks didn't care much about where the money came from, but I'm told that money laundering regs are much tighter and they want to get to the nth degree.

Clearly, if it was just one thing that netted us the money, a receipt of sale would sort it, but this could be messy as we've got our money spread about in various different places.

WellKnownSid

We had to give chapter and verse about ten years ago, but when we completed earlier this year, we even "found" another 10% to get a better rate and no-one batted an eyelid.

I guess as long as it's not £xk in cash brought in by wheelbarrow it shouldn't be an issue.

Thrugelmir

monkey-fingers wrote: »

Clearly, if it was just one thing that netted us the money, a receipt of sale would sort it, but this could be messy as we've got our money spread about in various different places.

In liquidating investments you will receive documentation for the transaction. So fail to see how this would be "messy".

monkey-fingers

Thanks for the replies. Good to get advice!

Thrugelmir: My worry being is that a) some of the liquidation will be possibly in cash (likely the van) and b) Some of the shares are in various different places and I'm concerned that a mortgage adviser won't want to go through lots of documents.

I'm also looking to possibly consolidate our debt into one payment. Would you recommend doing that before or after?