Deposit query

Arundeltomb

I am going to be meeting with my mortgage advisor to finalise my mortgage application (I have been approved in principle) and have never owned a property before however the advisor and solicitor have requested I provide proof of my deposit building up. I sold some of my belongings in order to get some extra money for a deposit and had put it all in my bank as a lump sum of just over £2100. I am now panicking incase they do not accept this money for my deposit or need proof of where it came from as I have no proof except the fact that I, of course, now no longer have the items I sold....Anyone in the know how of how this works? Is this going to jeapordise my application becaus of this? Is there anything I can do that will make this situation better? Thanks in advance.

davidmcn

When did it come into your account? Solicitors will often only look back 3 months.

Nothing you can do to make it better, if you really can't find any evidence of how you got the money.

Arundeltomb

Thanks for your reply. I put it in last month. With my lack of knowledge on these things I thought it best to put it in my account with the rest of the money for the deposit and it would strengthen my position, not damage it

PS I have some text messages showing prices and arrangements for collection etc?

amnblog

Why are you asking here rather than speaking to your mortgage adviser and your solicitor?

Arundeltomb

I will of course be discussing it with them next week at my meeting. As I said, I've never bought a property before, this process is all new to me, I simply thought that asking on here might help as I have another week to worry about it all before then.

AnotherJoe

£2100 isnt much of a deposit. Or is that just part of it and you are concerned about it being a lump sum? It doesn't seem big enough to me anyone would even ask but if they do just tell them the truth, you sold some stuff.
My moneys on them not even asking.
Do report back what happened.

Arundeltomb

Thanks.
Yes, it's just part of the deposit. I'm hoping you are right.
Fingers crossed.
I'll report back here and let you know the outcome