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Lender wants proof of deposit
kay_1
Posts: 92 Forumite
We are currently in the process of a full application. Our lender has asked for proof of deposit. We need £10,500 for deposit but we only have £10,000 in our savings at the moment. We have a standing order for £1,500 set up for the end of each month so will our lender take this into account as they will see that at the end of march we will have the full deposit together?
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Comments
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Someone more experienced than me will be along soon I'm sure, but I can't help but wonder how you are going to pay all associated costs if you're only just at the point of having deposit in a months time?0
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I work for a firm of solicitors so only have to pay for disbursements, we have already paid mortgage valuation and application fee, no stamp duty and anything else will come out of our monthly wages rather than our savings
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Where is the extra 1500 coming from?
Our deposit is spread across a couple of accounts, hasn't been a problem as we could demonstrate where the money was coming from.0 -
It will be from our march wages so isn't actually in an account yet.0
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I work for a firm of solicitors so only have to pay for disbursements, we have already paid mortgage valuation and application fee, no stamp duty and anything else will come out of our monthly wages rather than our savings
Fair enough I'm very new to all this, but would probably just put £500 in to make sure if that was at all possible. 0 -
I imagine the issue is the source not the amount currently. £500 isn't material.0
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