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Proof of funds when buying property
reggie
Posts: 213 Forumite
What is required by a solicitor in relation to proof of funds for a deposit when buying a property? Son is ready to complete, mortgage approved etc and suddenly solicitor wants proof of funds (deposit) - he has provided bank statements but they want last 3 years' P60s - is this normal? I haven't come across this - one P60 maybe but 3? His deposit has come from an ISA he has been paying into and has provided statements for this.
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reggie said:What is required by a solicitor in relation to proof of funds for a deposit when buying a property? Son is ready to complete, mortgage approved etc and suddenly solicitor wants proof of funds (deposit) - he has provided bank statements but they want last 3 years' P60s - is this normal? I haven't come across this - one P60 maybe but 3? His deposit has come from an ISA he has been paying into and has provided statements for this.What's required is whatever the solicitor asks for. There aren't "standard" requirements, and I wouldn't say P60s are standard, but it's not an unreasonable method of evidencing that he's accumulated the deposit from earned income.Is there actually a problem? Haven't his employers been providing P60s?0
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They have provided P60s but all his stuff is in boxes, so can easily access last year's P60 but will have to wait to contact HR re the others. 3 P60s seems a lot though.0
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