We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
proof of deposit
Maybe_its_because
Posts: 440 Forumite
Would appreciate your feedback on this dilemma.
We have a 15% (£50K) deposit for our impending house purchase.
I have bank statements to show we have the full deposit value in ISAs.
My partner has just over £5k worth of Euros, which was given to him by his folks last year, sitting in his RoI bank account.
Can we use the ISA statements as evidence of our deposit but use the Euros (exchanged into £s) as part of the deposit and keep an ISA back in its tax wrapper. So the deposit value is the exact same but the payment is taken from a different source of our savings.
Would appreciate any feedback to see where this idea might fall on its backside
Thanks, MIB
We have a 15% (£50K) deposit for our impending house purchase.
I have bank statements to show we have the full deposit value in ISAs.
My partner has just over £5k worth of Euros, which was given to him by his folks last year, sitting in his RoI bank account.
Can we use the ISA statements as evidence of our deposit but use the Euros (exchanged into £s) as part of the deposit and keep an ISA back in its tax wrapper. So the deposit value is the exact same but the payment is taken from a different source of our savings.
Would appreciate any feedback to see where this idea might fall on its backside
Thanks, MIB
MFW2020 #5 £2,000/2,000 MFW2021 #5 £1,850/3,500MFW2022 #5 £3.001/3,000Sep'12 £233,750 Jan'15 £222,329 Dec’21 £139,584 MFiT T4 #24 £48k/£34k MFiT T5 #24 £22,186/£41k MFiT T6 #24 £4,700/£29k
0
Comments
-
why not just show the bank statement with the euro in it as part of the proof?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
why not just show the bank statement with the euro in it as part of the proof?
Is it as simple as that? Wouldn't it be seen as a gifted deposit from his parents and will need to letters/evidence of where they got it from etc.MFW2020 #5 £2,000/2,000 MFW2021 #5 £1,850/3,500MFW2022 #5 £3.001/3,000Sep'12 £233,750 Jan'15 £222,329 Dec’21 £139,584 MFiT T4 #24 £48k/£34k MFiT T5 #24 £22,186/£41k MFiT T6 #24 £4,700/£29k0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.5K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards