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nationwide problems with deposit
helpformortgage
Posts: 13 Forumite
Hi,
I am a FTB showing deposit from abroad and the bank cant accept it and asked for sources of that deposit so we provided proofs and sources by supporting bank statements and now they come back saying they cant even accept it as it is a non uk bank...showed them evidence of bank statement from a uk international bank account to abroad they dont want to consider any of that dont know what to do more than this... feel like getting a gift would be more easier than telling this people that its my savings abroad....really panicking dont know what to do more...should i withdraw my application if i do so will they refund me the amount that i paid for arrangement fees?? Go with another bank??? or tell them that someone is gifting me money??? nationwide is killing me...:(:(:(:(
I am a FTB showing deposit from abroad and the bank cant accept it and asked for sources of that deposit so we provided proofs and sources by supporting bank statements and now they come back saying they cant even accept it as it is a non uk bank...showed them evidence of bank statement from a uk international bank account to abroad they dont want to consider any of that dont know what to do more than this... feel like getting a gift would be more easier than telling this people that its my savings abroad....really panicking dont know what to do more...should i withdraw my application if i do so will they refund me the amount that i paid for arrangement fees?? Go with another bank??? or tell them that someone is gifting me money??? nationwide is killing me...:(:(:(:(
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Comments
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You'll need to evidence the source of the money. As it came from somewhere. In this technological age there's a paper audit trail available.0
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audit trail??? is it more than an official bank statement??? dont even know how does it look like??:(0
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Which country did the money come from?I am a Mortgage AdviserYou 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
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Even if you told a new bank/lender it was a gift, they would still require proof of where the money came from and you'd be back to square one, plus now it's worse as it's considered mortgage fraud.
Perhaps you should speak with a broker and find out which banks would accept your deposit given the circumstances."If you will change, everything will change for you." - Jim Rohn
I simply use these forums to share my knowledge, reinforce my learning and experience as an IFA. Please remember, if your circumstances are complex, speak with your local IFA from Unbiased or VouchedFor directories for regulated financial advice.0 -
It is in india0
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I know a family member recently got a gift payment from their parents, they transfer the money to his account. (her parents savings and was ready to show bank statement proof)
The bank ask them to fill in a gift donation form and that was it (they didnt ask for bank long list of evidence). How much is the deposit.0 -
21000 but it's not gift it's our savings in india that we are showing0
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I dont think you could have chosen a worse lender for this.
I tend to find nationwide quite anal about deposits...(im not saying rightly or wrongly).I am a Mortgage AdviserYou 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 -
Can I drop my application and go with a different lender if so which bank should I choose?? As I am sure eventually they will decline our mortgage0
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helpformortgage wrote: »Can I drop my application and go with a different lender if so which bank should I choose?? As I am sure eventually they will decline our mortgage
Money laundering regulations will need to be adhered to irrespective of the lender. As the solicitor is duty bound by these.
Get your paperwork sorted out first.0
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