Deposit help

Scarynewlife

Hi there,
I have been saving for a house deposit this past year and my dear nan has just announced she has been putting some of her pension away for me too.
Whilst this is lovely I'm now in a position where I have 3 thousand pound in cash to put towards it. This is a great help and will mean I can start looking at houses after christmas.
Her bank accounts show the cash withdrawn in every month but im concerned I will hit some issues from lenders or solicitors.
Can anyone please advise whats best to do in this situation??
Thanks in advance

YHM

Confused. So your gran has been taking money out of her pension as cash and she's given you it and your concerned about evidencing the paper trail as to where its come from?

davidmcn

If you mean literally in folding cash, I recommend paying it into a bank account as soon as possible (and tell her to stop doing it that way!). Solicitors may well only look back a few months in your bank statements, so depending on when you actually buy it may be ok by then.

Scarynewlife

Sorry if I didnt make it clear, she has been withdrawing cash every month after her pension is paid and keeping it under the bed. I've explained the dangers of this to her now. I'm just concerned what the bank or solicitors will say when they see that much deposited in my account in cash

[Deleted User]

Scarynewlife wrote: »

Sorry if I didnt make it clear, she has been withdrawing cash every month after her pension is paid and keeping it under the bed. I've explained the dangers of this to her now. I'm just concerned what the bank or solicitors will say when they see that much deposited in my account in cash

They'll wonder whether there are bloodstains on the notes and a shotgun nearby.

Get her to put it into the bank, for both your sakes.

Littleladie

You usually get asked when talking about the deposit if anything is "gifted" so you can label it as that if they question it I think?