Proof of deposit with nationwide

poet123

cmorrison6 wrote: »

Im a first time buyer and recently received my mortgage offer from Nationwide. They did not ask me to provide any proof of deposit. 90% LTV.

However you're solictor will ask for proof of deposit and you must also supply 6 months back statements to show the build up of the deposit. This is to cover money laundering regulations.

My son bought a house in January and did not have to do this. This was via Nationwide.

leereni

Thanks.....

Dave_Ham

I cannot recall the details (and have not got the time to check) although sure some of the deposit was coming from overseas?

Are you now trying to change this by stating it was an old account and you have transferred from this to another maybe joint one?

I am confused.

If nothing sinister is going on, get the statements prove the deposit gift or otherwise and be upfront with the lender.

The Solicitor will verify the source of your deposit and tell the lender in any case.

Additionally, if this is a single application and the funds are now in a joint account; this will confuse matters further.

I am a tad nervous that you are so nervous of this process and constantly looking for reassurance.

Speak to the lender, ensure they have full facts and provide the documentation. That way you can stop worrying and not incur unnecessary costs..

ValHaller

leereni wrote: »

I understand you're advising me to do so just in case but do you seriously think they'll be needed?

The more difficult it will be to provide the statements, the more you should get hold of them without being asked. If it is a trivial task, leave it until you are asked. If it is difficult, you do not want to take a delay to sort it out if you could have done it earlier

Dave_Ham wrote: »

.... I am a tad nervous that you are so nervous of this process and constantly looking for reassurance.

Good point

mskemp85

We have recently had a Mortgage application approved by Nationwide. In our case they didn't ask for proof of deposit, although as others have said our solicitors have said that they may need to see it, although as of yet they haven't asked.

Bottom line I guess is that it may be beneficial to have it to hand in case you are asked for it when deadlines are tighter, up to you though, but certainly from our experience Nationwide don't always ask for it.

Building_Surveyor

Sounds dodgy to me... if you never had statements then just go into the bank and ask for copies - there may be a charge but your problem is easily solved. If its a gifted deposit then a declaration will need to be signed by the person gifting it - your solicitor will check one way or another where the money has come from.

Either you are worrying for nothing or hiding something.

Goldiegirl

Building_Surveyor wrote: »

Either you are worrying for nothing or hiding something.

And if you are thinking of trying to hide something - don't

Lenders, brokers and solicitors have seen it all before, and it's difficult to pull to wool over their eyes

Dave_the_Ginger_Cat

You're so right, Goldiegirl

Many years ago, I had a chap name of John Smith apply to me for a mortgage who was an undischarged bankrupt and chose not to declare this. Despite being a common name (frequent not class!), I still found this. His app just didn't stack up

So be open

leereni

I'm not trying to hide anything. It's just going to be another thing to get hold of apart from everything else in these mortgage applications.

leereni

BTW I'm probably just worrying for nothing.