proof of deposit

Millers42!

We are in the process of applying for a mortgage. My sister released some funds via an equity release scheme and gifted us part of our deposit. The mortgage provider wants copies of the last 3 months of my sister's bank account (they say) to ensure they have complied with the money laundering regulations. We have provided a bank statement showing who paid in the money and she is happy to provide a letter from the equity release company showing where the money has come from. However, she is not happy about sending her account details to the mortgage provider as there are several DDs and references to whoever she pays these to which she does not think the mortgage provider should be privy to.

Is it really necessary for her to provide copies of her last 3 months accounts or are they just on a fishing expedition?

[Deleted User]

She can blank out any embarrassing transactions.

davidmcn

Millers42! wrote: »

We are in the process of applying for a mortgage. My sister released some funds via an equity release scheme and gifted us part of our deposit. The mortgage provider wants copies of the last 3 months of my sister's bank account (they say) to ensure they have complied with the money laundering regulations. We have provided a bank statement showing who paid in the money and she is happy to provide a letter from the equity release company showing where the money has come from. However, she is not happy about sending her account details to the mortgage provider as there are several DDs and references to whoever she pays these to which she does not think the mortgage provider should be privy to.

Is it really necessary for her to provide copies of her last 3 months accounts or are they just on a fishing expedition?

They're not "fishing" for anything and aren't interested in the rest of her finances, just requiring to ensure that the funds really are hers rather than coming in turn from someone else.

Your solicitor will almost certainly need to see this too.

BoGoF

Whatever your sister thinks, if thats what they want then thats what you need to send.

They wont be the slightest bit interested in her diect debits.