Deposit and exchange query (FTB)

GeekDom

I have a full mortgage offer, and awaiting solicitor request for proof of deposit. My only concern is that half the money has been sitting in my wife's accounts, and then electronically transfered to mine a few months ago. I have been depositing money both by cash and bank transfer e.g. £1-2k monthly.

The reason being that my wife is a 'home maker' so I use her savings accounts to reduce the tax on savings. My own ISA is maxed out.

My wife will not be on the mortgage deed but has been mentioned as a 'dependent' during application. Will this cause any problems for verification of funds? Will I need to show her account statements as well?

Finally, how much deposit would I need to pay on exchange? Purchase price is 90k with 20% deposit.

Thanks

Thrugelmir

Why not simply add your wife to the mortgage application?

Should be possible to provide the bank statements for the account from where the transfer was made.

GeekDom

Thrugelmir wrote: »

Why not simply add your wife to the mortgage application?

Although she's unemployed, she can still manage to max out credit cards :mad: