Proof of Deposit

Mich81

Hi All

To boost our deposit, we're considering selling some things we no longer need, i.e. PS4, old phone that kind of thing, probably via Facebook

Obviously we'd get cash for these items, would depositing this cash to put towards our deposit raise questions? We'd get more money selling them on Facebook than via eBay / CEX but no audit trail as such?

Thanks in advance

davidmcn

If it's not going to be a significant proportion of your deposit I doubt it will matter - nobody's going to be querying £50 here and there. Though if you were paranoid I suppose you could spend the extra cash on your normal expenses and save up that way.

Mich81

Cheers

Wouldn't be over £1k I wouldn't have thought, but we don't want to think we're decluttering and raising extra cash if it's then gonna cause issues further down the line.

YHM

I can't even think how a lender would find out about this, other than direct credits into your bank account.

Cash deposits from a credible source will be fine

Mich81

YHM wrote: »

I can't even think how a lender would find out about this, other than direct credits into your bank account.

Cash deposits from a credible source will be fine

We'd be wanting to deposit the cash into our bank account then transferring it into savings

I guess if they got dead picky we could show them the FB ads we listed? Maybe I'm overthinking it

Jaglad111

At worst they may ask for an explanation on a few transactions. I had 4 queried totalling about 12k. I sent an email explaining them and that was sufficient. I wouldn't panic in the slightest.