Proof of Funds NS&I

Bakes96

Hi All,
I’m just looking for some feedback from people who may have been through this process already or have any views on it.

We’re currently in the process of purchasing our first property and are close to exchanging, however our solicitor is requesting more proof of funds, some of the funds were held in NS&I Premium Bonds & Income Bond accounts along with bank savings accounts. 

I can download a yearly ‘statement’ for the Income Bond account but am unsure on what I can provide for the Premium Bond account as there is no option of a ‘statement’, does anyone have any thoughts or experience of this?

the funds are no longer in those accounts and have been recently withdrawn down to my actual bank account ready for paying the deposit.

thanks in advance.

AdrianC

If the funds aren't in the premium bonds, but in a bank account, then just send proof of the bank balance...

davidmcn

AdrianC said:

If the funds aren't in the premium bonds, but in a bank account, then just send proof of the bank balance...

The solicitors will need to see who they came from though, funds aren't just assumed to be "clean" because they've passed through your bank - that would make things a bit too easy!

Slithery

You can request a statement by post from the website...

View Account > Paperless Documents > Request duplicate statement by post.

Bakes96

I’ve been able to provide three of the yearly statements for the Income Bonds, they only produce a statement each tax year for the year not monthly. Statements aren’t produced for the Premium Bonds so I can’t provide or request anything else, and even if I could it would take too long. I’ve since shown how the money got into the NS&I accounts, whether that would be sufficient I’m not sure.

I don’t quite understand what more can be provided than statements of the bank accounts historically, showing the transactions/purchases of the bonds, and finally back into my bank account ready to place the deposit. 

This is just for savings over time, from monthly wages.

I had already provided statements at the beginning of the purchasing process, not a lot has changed money-wise since then...

Acorn22

Hi Bakes
I have used NS&I premium bonds and income bond accounts as proof of funds twice with estate agents and solicitor and all i did was log into my NS&I account online and take a screen shot of the page. Make sure the page clearly shows your name, the date (so they know its current) and of course the amount of funds. This has been accepted for me in the past as proof of funds and is instant and no need to wait on documentation to be sent etc. Good luck!

unkle

These days they also want to see source, so how long it's been in there and where was it paid from.

Bakes96

Have sorted it now, they wanted evidence of how the funds got into the NS&I Accounts (I think, unless they gave up asking me!), managed to pick out the transactions and provided the documents.

Thanks for the input