Combining Deposit

datlex

My deposit is split over 4 accounts 1 of which is a HTB. I am wondering if it would make more sense to combine the 3 non HTB in one account to make paying the deposit easier. Or can you pay a deposit from multiple sources.

davidmcn

Doesn't make a difference to anyone else how you do it. Your solicitor will still need to check the ultimate source no matter where you shift the money around.

mije1983

Keep it where it is earning the most interest. Then when the deposit is payable move all into your current account, then onto your solicitor if you want to keep it as one payment.

HampshireH

Depending on how far in the process you are.

I Have pockets of money in various accounts & move it around to suit interest rates which hasn't helped me at all during my purchase. It has meant I have had to justify all sorts and evidence movement between accounts going as far back as 12 months. I have also had to evidence each account.

This wouldn't have been an issue if they had just asked at the beginning but they drip feed requests for info.

Just be prepared from the beginning and ensure you have access to all statements for a good period of time.

I was advised not to amalgamate funds once I had applied for a mortgage.