Does Virgin need to see proof of deposit before my FA applies

goodison12

Hi does Virgin need to see proof of deposit before my financial advisor applies for a full mortgage? Some of deposit won't clear till Wednesday. We have an AIP and all the other documents?

Thanks

ACG

The last case I sent them needed P60 an last 2 payslips for each applicant, declaration form and employers reference. No bank statements and no proof of deposit. That does not mean they will never request it however.

What has your broker said?

goodison12

She has asked for payslips bank statements and proof of deposit. I told her I couldn't get proof of deposit till Wednesday so she said she will submit tonight!? On the AIP it just said payslips?

ACG

We as brokers need those things for our records. The lender may need some or all of them. The same goes for ID, we need them but the lender may not.

shazzer22

We did ours direct with Virgin (didn't use a broker) and have only had to provide 2 payslips each and P60s.

goodison12

Shazzer - how did you find Virgin, where they wil quick with valuation and mortgage offer? Thanks

journeymanpro

We have just used virgin through our IFA. They didn't want proof of deposit.

They were very quick too. 13 days from application to offer and that included the vendors delaying and being awkward over arranging the valuation survey.

amnblog

Not securing all documentation before application is not good Practice from a broker.

Just because an evidence item is not listed on a decision in principle confirmation, this does not mean the lender will not ask for it later.