Part of Proof of funds for mortgage deposit from bank loan

SaGoo

Hi all,



I have been approved for a mortgage from a good lender where part of my deposit is from a bank loan, but I have a really good salary and credit score etc and can afford the repayments so it's all been approved their end.



My question is my solicitor is asking for proof of funds (I am a first time buyer). I am therefore wondering that even though the mortgage lender has approved will this be a problem with the solicitor? I've provided a evidence of the statements for the loan etc and my savings for the rest of the deposit and waiting to hear back.

Thank you

[Deleted User]

All the solicitor is doing is checking its not come from the !!!!! and then reporting it to the lender when it's not your funds.

As long as the lender is aware it was from a loan and you have paperwork for this then it will be fine

[Deleted User]

Apparently m.a.f.i.a is censored

ACG

Who did you apply to? Very few lenders accept a loan as a deposit.

Did you tell them your deposit came from a loan? If you got the right lender you will be fine. If not you need to find a new lender as the solicitor will need to report it to the lender.

Thrugelmir

SaGoo wrote: »

My question is my solicitor is asking for proof of funds (I am a first time buyer). I am therefore wondering that even though the mortgage lender has approved will this be a problem with the solicitor?

Your solicitor is also the lenders. Solicitor will report to the lender. Lender will decide if the source is acceptable.