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Nationwide Gifted deposit/ proof of funds
Vasquez65
Posts: 91 Forumite
Daughter has had offer accepted, DiP given, ready to progress to full application.
She has £10k in a Lisa, we are gifting £17k to make a 10% deposit, I know we have to fill in the Nationwide form, she will have it by Monday. Will Nationwide ask for any kind of proof of our funds at this point?
I only ask because I am taking the £17k from my Sipp and it takes 2/3 weeks to sort out apparently as I’m crystalising the pension to access a tax free lump sum and there is a ‘cooling’ off period built into the process.
She has £10k in a Lisa, we are gifting £17k to make a 10% deposit, I know we have to fill in the Nationwide form, she will have it by Monday. Will Nationwide ask for any kind of proof of our funds at this point?
I only ask because I am taking the £17k from my Sipp and it takes 2/3 weeks to sort out apparently as I’m crystalising the pension to access a tax free lump sum and there is a ‘cooling’ off period built into the process.
So at the moment the only proof I can provide is a screenshot of my Sipp account with £17k of it already in cash in there. I can also photocopy the forms when I receive them, which should be next week.
Will it delay them making a formal offer until the cash hits our bank account, which will obviously be mid Feb?
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Solicitor will perform necessary money laundering checks. You've plenty of time to organise the funds.1
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