Proof of deposit (full?)

dzevel5

Hi, I tried to find an answer, but I didn't so I'll be specific for my case.

I would like to pay a deposit of 61K, at the moment I just a day before start the credit check.
I have 2 bank accounts, together they have 40K
I also have investment account (TD Direct) with 17K

I plan to deposit for about June, and I have salary of about 3K in a month.

1. is this is ok?? or I have to proof that I have 100% of the 61K already ??
2. If I have to proof that. can investment account like "TD Direct, Openwork or Fundingcircle" is good enough? Or should I have all the money in my Bank account?

Thank you very much

ACG

Ask the lender.
Some want to see all of it, some are happy to see most of it knowing that you can get the remainder from your wages by completion.

dzevel5

They don't know to answer for that. They want me to pay fees and start the process
But I want to be ready for this long process, that's why I'm asking here.

ACG

The lender does not know whether they would want to see the full deposit or not? I do not believe that for one minute, I am not suggesting you are lying but possibly the person you spoke to should not be speaking to customers.

If the lender does not know, how would anyone else?

Who is the lender you are thinking of applying to?

dzevel5

I'm not lying, otherwise why should I ask here if they did answer?
Co-operative: we first need you to pay the fees, then we will check between 6 to 8 weeks. we don't know to give you the answers in advanced and we don't want to speak on behalf of few teams that check your details and documents.

All they know, is what is what documents I need to provide to them.

I finally got an answer from another lender (yes one of them open today) - they don't need a proof of deposit in advanced

ACG

I used to work for Co-op, I think they would be fine if you can not evidence the full deposit however I think £4k off might be a little too much but it will depend on how much you get paid each month and how much you spend.

dzevel5

Thanks! that brings me back to my original question
Is the investment account through brokers like TD Direct / Openwork / FundingCircle (on my name) considered as a proof?
Or I must have the money in my Bank account?

ACG

Im not sure about that. I think it would be ok, but they should really be giving you an idea upfront. I do not recall having that as an enquiry when I worked there.