mortgage application and deposit

lee_w

good evening

i have had a offer accepted on a property, i did mention i wouldn't be able to exchange contracts untill after june 1st as my deposit is currently in a sharesave scheme and matures june 1st. this wasn't a problem as there is a chain involved and the vendor and estate agent were happy BUT

i will be doing my mortgage application next week, will there be a problem with me not physically having my deposit in my account although i can provide proof of the value in my sharesave account

the mortgage will be with sandander who i also bank with, the mortgage required is 120k putting down 23k depoist


many thanks

The_J

Should be fine if they ask for proof of deposit which they may not do.

lee_w

cheers buddy, i gave the estate agents a print out of my sharesave account and they were more than happy to withdraw the property from the market, i'm just expecting something to go wrong

The_J

Don't worry, you're applying to Santander. Something will definitely go wrong and it will be so unbelievably stupid that I look forward to reading about it

lee_w

o dear that doesn't sound good, i've heard alot of people moan about them but i havent had a problem for 10 years, guess now could be my time. i had a aip with halifax but there rates weren't as good. might have another look around before i commit to santander then, i'm putting down 15% deposit and want to go fixed for 5 years so will have a gander at what else is about

The_J

The bad news is that they are all terrible at the moment so probably better the devil you know.

The issue I have is that they used to be good, flexible and pleasant to deal with on mortgages. Now they have gone weird.