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Proof of Deposit funds
honeywoodsix
Posts: 6 Forumite
Hi,
I am planning to initiate the early stages of buying a House. I have managed to save a very large deposit, but majority of the money came from gifts, investments, and the occasional savings from work income.
I am worried that I wont be able to provide all evidence, of how the money came from, to the mortgage lender. However, the deposit money has been in my savings account for more than 6 months. Would a mortgage lender still look into the history of the saving account, if it is more than 6 months old?
Would you always need to show proof of the funds source, no matter how long the money has been sitting on the savings account?
Thank you.
I am planning to initiate the early stages of buying a House. I have managed to save a very large deposit, but majority of the money came from gifts, investments, and the occasional savings from work income.
I am worried that I wont be able to provide all evidence, of how the money came from, to the mortgage lender. However, the deposit money has been in my savings account for more than 6 months. Would a mortgage lender still look into the history of the saving account, if it is more than 6 months old?
Would you always need to show proof of the funds source, no matter how long the money has been sitting on the savings account?
Thank you.
0
Comments
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How large is 'very large' and what percentage of that falls in to the 'gifts' or difficult to prove category?
0 -
And how long ago did you receive any funds from third parties? Things from your own income or investments aren't going to be a problem (assuming you have the paperwork).0
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