2 Year old Dividend as deposit.

Poppcorn87

Hi all - it’s been years since I last posted!

I have a question - I was a shareholder of a company 2 years ago and was paid a dividend of £40k. I am no longer a shareholder. The £40k is now spread across 2 ISAs. 

I wanted to apply for a mortgage at the time however my credit was terrible. It’s all good now so I’ve started to do some homework. 

In regards to proof of deposit will the ISA statements be enough since the money has sat there for 2 years or will I need to dig out more documents to show it was a dividend?



thanks! 

MovingForwards

Just dig out the proof, it will potentially save stress when the time comes.

Alter_ego

When we bought a couple of years ago our solicitor was happy just to see the totals in 4 or 5 accounts. no digging back etc. That was for the full cash price of the house. So it's impossible to guess what will satisfy your solicitor. Perhaps if you have an honest face..............

[Deleted User]

Asked a lender about a gifted deposit recently. They told me they class any money as 'personal savings' after its been in the clients account for 12 months.   
Probably would just class as savings for your purchase.

Proof of directorship shouldn't be too hard to come by anyway if its needed.  It is all public info on companies house

Poppcorn87

Deleted_User said:

Asked a lender about a gifted deposit recently. They told me they class any money as 'personal savings' after its been in the clients account for 12 months.   
Probably would just class as savings for your purchase.

Proof of directorship shouldn't be too hard to come by anyway if its needed.  It is all public info on companies house

thanks! I read that somewhere too! 

Poppcorn87

MovingForwards said:

Just dig out the proof, it will potentially save stress when the time comes.

Thank you. I just done know what proof I need. I have the bank statements showing the payment in from the company. Hope that’s enough if needs be!