Proof of deposit

bexs2247

How do you prove deposit monies if some of it is tied up in the equity of the current house that is being sold?

Loopy28

Who has asked you to prove it?

I haven't had to at any point with mine but I would imagine you could show a mortgage statement or ask to be sent an up to date one and show the balance remaining in comparison to the selling price to show the equity.

maninthestreet

Deposit money has to be in the form of cash in the bank or building society, doesn't it?

hcb42

Solicitor should know amount owing on mortgage on completion of sale/purchase...?

bexs2247

Mortgage company want proof. Most is in our premium bonds but we want to use the little bit of equity I have in my house too.

Thrugelmir

bexs2247 wrote: »

Mortgage company want proof. Most is in our premium bonds but we want to use the little bit of equity I have in my house too.

Then that's what you need to tell them.

Contemptuous

A letter from your solicitor confirming the sale particulars should be sufficient where the equity is involved.
Not sure how you prove bonds.

amnblog

Lenders do not normally ask for anything is the deposit is coming from equity as they rely on the solicitor to handle things.


Occasionally they request a copy of the sale agreement from the estate agent.