Deposit from savings - any statements required?

goodwithsaving

glider3560 wrote: »

I am going to be in the same situation (deposit about £30k).

My deposit has partly been saved up by me, partly a gift (which I have already received as a bank transfer). Considering I have multiple current accounts (for the 5/4/3% interest offers), multiple regular savers and many previous savings accounts over the years, it could get very messy with showing all the documents.

Would it be advised to keep all the money in one account for the next three months, then I can just provide the one statement?

It needs to be be traced back minimum 6 months. We were gifted some which was transferred but we needed to provide an audit trail in the account from where it originated too.

I would've thought leave it where it is and bring it all together to transfer over (avoiding multiple CHAPS transfer charges).

glider3560

goodwithsaving wrote: »

It needs to be be traced back minimum 6 months. We were gifted some which was transferred but we needed to provide an audit trail in the account from where it originated too.

I would've thought leave it where it is and bring it all together to transfer over (avoiding multiple CHAPS transfer charges).

I can trace back the gift easily, as the provider of the gift has kept it in the same account for the last 11 years.

However my own savings are another story. I'd have to provide the statements for 12+ accounts to fully trace this money. That'd be a fun job for someone to look through!

goodwithsaving

Mine wasn't traced back to £0 but just a recent statement from the past 6 months. I also provided info from when I last topped it up well over 6 months ago....whether that was needed or not I don't know, but I did provide it to be helpful.

LplateSaver

goodwithsaving wrote: »

It needs to be be traced back minimum 6 months. We were gifted some which was transferred but we needed to provide an audit trail in the account from where it originated too.

I would've thought leave it where it is and bring it all together to transfer over (avoiding multiple CHAPS transfer charges).

I'm confused about the gift, if the gift was given more than 6 months before mortgage does it still need to be declared a gift and still need originator to be audited? OH will have 3 Giftors if he apply for a mortgage next year.

goodwithsaving

LplateSaver wrote: »

I'm confused about the gift, if the gift was given more than 6 months before mortgage does it still need to be declared a gift and still need originator to be audited? OH will have 3 Giftors if he apply for a mortgage next year.

I'm not terribly sure, sorry. I would have the relevant paperwork incase it was required but is one for your broker I'm afraid. Better to be overprepared than under prepared. You might also want to enquire about gift forms to declare that those offering the money hold no interest in the property.

Unless a broker on here can answer.