House deposit sorted out before finding house.

jehangir

A quick and maybe strange question concerning my deposit for a house purchase .

Is there anyway of having my finances / savings looked over so I know the exact amount can I use as a deposit on a house purchase (possibly at auction ) ?

I am a first time buyer and quite an anxious person so would like everything organised beforehand rather than having the stress of proving / supplying the information to a deadline and losing out on a purchase .

Most of the money is in my Natwest soletrader account but the rest is from personal savings/isas which I have been juggling for the last 5 years for the best interest rates .


Any advice would be much appreciated.

Richey_

Have a look at mortgage guides which will explain the process but bes5 to start applying for a decision in principle with a bank / broker. Give you a price ceiling before finding a property and making an offer.
If unsure speak to somebody with experience or reading a banks guide

Richey_

Frustratingly looking at your previous posts you have asked similar before and gone as far as obtaining a decision in principle with Nat West and sought broker opinions.

You know already how this all works and are looking to waste people’s time

glentoran99

jehangir wrote: »

A quick and maybe strange question concerning my deposit for a house purchase .

Is there anyway of having my finances / savings looked over so I know the exact amount can I use as a deposit on a house purchase (possibly at auction ) ?

I am a first time buyer and quite an anxious person so would like everything organised beforehand rather than having the stress of proving / supplying the information to a deadline and losing out on a purchase .

Most of the money is in my Natwestsoletrader account but the rest is from personal savings/isas which I have been juggling for the last 5 years for the best interest rates .


Any advice would be much appreciated.

why do you need someone to tell you how much money you have?

davidmcn

jehangir wrote: »

I am a first time buyer and quite an anxious person

Buying at auction seems an excellent idea then! :rotfl:

[Deleted User]

If you send me half, I can probably run the calculations for you...

Debtslayer

In June you posted you had a deposit of 100k, but now you're asking how much to use as deposit?
You also said you had received mortgage offer.
Not sure what information you're seeking from this latest question?

jehangir

Hi , sorry for the confusion I should have made myself more clear .

I have received an mortgage in principle using the money I have in my Natwest soletrader business account as a deposit .

The issue is that the houses I have been looking at are about 20% more than the offer , the only way to make up the difference is to increase
my deposit money using money saved in my ISA / personal account.

My concern is that I have been changing bank accounts / transfering the money over the last 5 years
for the higher interest rates - would this be an issue .


I was wondering if there was a solictors procedure for " proof of funds " before I have found a property so there is no hold up.

thanks

Rambosmum

Yes you need to provide three months of bank statements from all accounts which your deposit is coming from, if you have transferred money during that time, you'd need to provide statements from the account you transferred from as well as the account the money is now in.