We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Proof of deposit -HELP!
Callie810
Posts: 23 Forumite
Hi all,
Me and my boyfriend have just had an offer accepted on our first house and are in the process of sorting out mortgage appointments and solicitors.
I have a question about proof of deposit.
Our offer on the house is 135k and we are putting a 10% deposit down so £13,500
We have £11,500 of it split between my Nationwide Save to Buy ISA and two accounts that my boyfriend has.
The other £2000 will be coming from a ShareSave account that my boyfriend has been paying into through work. The problem is we won't have concrete 'proof' of this deposit amount until after May 1st as that's when the account is closed. The reason for this being is because the final amount my boyfriend receives depends on the price of the stocks when his shares gets sold.
He has himself saved £3000 into the scheme and is guaranteed that no matter the outcome of the stocks (he currently stands to make a £3600 profit) so we will definitely have the £2000.
I understand that the solicitors will ask for proof of deposit at some point.
His payments to the sharesave scheme will be on his payslips, would they be sufficient as proof of the £2000? He has been paying into this for around 4 years and all his payslips are electronic so it may be a nightmare to get hold of 4 years worth but we could do it if it is required.
If that has made any sense whatsoever has anyone got any advice?
Me and my boyfriend have just had an offer accepted on our first house and are in the process of sorting out mortgage appointments and solicitors.
I have a question about proof of deposit.
Our offer on the house is 135k and we are putting a 10% deposit down so £13,500
We have £11,500 of it split between my Nationwide Save to Buy ISA and two accounts that my boyfriend has.
The other £2000 will be coming from a ShareSave account that my boyfriend has been paying into through work. The problem is we won't have concrete 'proof' of this deposit amount until after May 1st as that's when the account is closed. The reason for this being is because the final amount my boyfriend receives depends on the price of the stocks when his shares gets sold.
He has himself saved £3000 into the scheme and is guaranteed that no matter the outcome of the stocks (he currently stands to make a £3600 profit) so we will definitely have the £2000.
I understand that the solicitors will ask for proof of deposit at some point.
His payments to the sharesave scheme will be on his payslips, would they be sufficient as proof of the £2000? He has been paying into this for around 4 years and all his payslips are electronic so it may be a nightmare to get hold of 4 years worth but we could do it if it is required.
If that has made any sense whatsoever has anyone got any advice?
0
Comments
-
You've just had an offer accepted? 1st of May is 12 days away, I cannot see much occurring in 7 working days... Is he not provided with an annual statement?0
-
Our offer was accepted yesterday.
As far as I'm aware he's never had an annual statement. He's double checking if there is a way for him to view what he has saved into the account.
One of my main reasons for asking is that I have read the some solicitors have asked for proof of deposit quite early on in the process. I understand that there is a small chance of all of this happening in 7 days but I am a worrier and don't want anything to hinder the process!0 -
The solicitors don't need proof of deposit until it's time to send them the money. I wouldn't worry about it at this stage.0
-
Hi
we are getting most of ours as gift but the investments have only just been sold. I told the solicitors this they are happy - to be honest we have got the mortgage accepted and paid for the valuation and the deposit for the solicitor so nearly £1,000 down if we had lied about the deposit so sure she takes our word for it. I wouldnt worry just speak to them
Paid off all Catalogues 10.10.20140 -
be upfront and honest. if u show them proof of the 11.5k and tell them they can have the proof of the other 2k as of x date they will be fine. i put down 30200 and when asked for proof i only had 29k but was being paid 3 weeks later (my wages were all saved, hubby works too!) they were fine because it was a minimal amount and i was able to show proof before completion0
-
They don't always ask for proof of the deposit.0
-
ruggedtoast wrote: »They don't always ask for proof of the deposit.
If your solicitor is too sloppy to be adhering to anti-money laundering regulations and your lender's instructions, I'd be worrying about what else they're not bothering to do properly.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards