Proof of funds for broker?

ellie27

Hubby is dealing with the broker.

He says the broker needs proof of funds. Does this simply mean proof of the deposit?

Or does the bank want to see proof of all your savings so it can see that after the deposit you have plenty savings left and you are not pushing yourself too much in terms of affordability?

I know we should ask broker but hubby 'is always right' and he says its just proof of deposit and no need to show any other savings at all.

Thanks!

Let_Us_See

Proof and source of deposit.

ExpertAdvice

Hi,

Lenders are concerned with the proof of deposit due to money laundering etc. They generally don't ask for the funds to cover other expenses such as stamp duty, solicitors fee, broker fee etc. So your hubby is 'always right'

betmunch

Cant believe you even questioned your hubby!