Deposit in husband's account - Nationwide

seoguy

Hi, I am on spouse visa and I just got a DIP from nationwide. I am sole applicant (I can't add my husband as his credit history is not good) Our DIP is based on fulfilling the following requirements:

1. Deposit from my own resources ONLY
2. Visa copy
3. Most recent payslip
4. 1 month bank statements

We have everything ready apart from the deposit which is in my husband's account. Now, if we transfer the deposit from my husband's account to my savings account, will it satisfy nationwide?

Looking forward to your experts opinions.

Thanks!

ACG

No.

You have applied to the wrong lender for your circumstances.

Speak to a broker. There are lenders who will do what you want and there are also high street lenders who will look at adverse.

kingstreet

Nationwide criteria;-

Non-EEA Foreign Nationals

For applications to be considered, indefinite leave must be evidenced by a stamp in a currently valid passport or written confirmation from the Home Office.

Where indefinite leave to remain in the UK is not granted, applications can be considered subject to meeting the following criteria:

Minimum 25% deposit which must be from the applicant's own resources. Gifts and builder's cash backs are not acceptable, unless they are in addition to the 25% deposit provided from the applicants own resources.

Applicants must have been legally resident in the UK for at least the last 3 years

Applicants must have either Tier 1 or Tier 2 immigration status, the government definitions of Tier 1 and Tier 2 are as follows:

Tier 1 for highly skilled workers

Tier 2 for skilled workers with a job offer

Applicants must have their salary paid into a UK bank account

Equity Share applications from non EEA Nationals without indefinite leave to remain are not acceptable.

seoguy

Hi Kingstreet, Thanks for the details. Yes that's the criteria I fit in, I have 30% deposit. It's just the source of deposit thats making problems.

kingstreet

Yes. That falls foul of the gifts sentence as your husband won't be able to gift you the deposit, which is what you'll need.

Wrong lender, as already suggested by ACG.

seoguy

Can you guys please recommend a broker or lender who will lend to visa holders with the deposit issue? Thanks

kingstreet

Unfortunately, we are able to do neither.

Suggest you ask friends and relatives for a broker recommendation.

ACG

Friends/Family or google. We are not able to recommend brokers or lenders.

Its worth doing as it will only get found out with nationwide down the line and you then risk losing time ando/or money.

seoguy

Can I use a saving bank statement from overseas (India), I have my account in India which has a balance worth of deposit.

csgohan4

seoguy wrote: »

Can I use a saving bank statement from overseas (India), I have my account in India which has a balance worth of deposit.

Banks will want to see proof of where that cash came from in India e.g business, gift e.t.c for money laundering purposes