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Source of Deposit
Sid_Ali
Posts: 1 Newbie
I'm considering purchasing a property and wanted to know if the following would be acceptable by lenders...
Since 2011 I have had savings of about £4-5k and in 2014 I received a redundancy package, which took my savings up to £12k. I was in full time employment until 2015 when I decided to become a homemaker. I had moved into my husband's home (marital home) and in 2016 I lent my savings to a family member, who is due to return the full amount this month so what i wanted to know was that with my historic bank statements to reflectling my savings history from 2011 until unemployment including the redundancy payment would having the money returned to me be an accepable source of deposit? I haven't started looking at the market just yet so the money will have been back in my account for a few months anyway...
Thanks
Since 2011 I have had savings of about £4-5k and in 2014 I received a redundancy package, which took my savings up to £12k. I was in full time employment until 2015 when I decided to become a homemaker. I had moved into my husband's home (marital home) and in 2016 I lent my savings to a family member, who is due to return the full amount this month so what i wanted to know was that with my historic bank statements to reflectling my savings history from 2011 until unemployment including the redundancy payment would having the money returned to me be an accepable source of deposit? I haven't started looking at the market just yet so the money will have been back in my account for a few months anyway...
Thanks
0
Comments
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Some lenders won't accept repayment of a loan by a third party.
Get professional advice to establish who to avoid.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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