Proof of Deposit - Pending LISA Bonus

wishinghome · 28 April 2021 at 11:35AM

Hi all

I am applying for a mortgage with Nationwide. £10,000 of my deposit will be coming from my LISA. I paid £4,000 in on 6th April for the 21/22 tax year and the £1,000 bonus is pending and will clear at the end of May. Will Nationwide accept the pending LISA bonus for proof of deposit? I can provide a statement for the LISA showing £4,000 paid in this tax year and screenshots of the account showing the pending bonus but the statement itself does not mention the pending bonus.

Thanks

rennes99 · 29 April 2021 at 8:45PM

I am also in the very same situation and would like to know the answer

Must be quite a common situation right now, what with the new tax year and mad rush in the market....

[Deleted User] · 29 April 2021 at 8:55PM

I've never had an issue with this. Nationwide only ask for proof of deposit on the odd case anyway so it might not come up.

wishinghome · 29 April 2021 at 9:02PM

Thank you. Nationwide have requested proof of deposit in our case unfortunately so this is what we've sent. Hopefully they'll accept it. I'm nervous that they'll put the application on hold until we can provide an updated statement showing the full £10k at the end of May. Hopefully not though. I'll update here what they say for anyone else in the same situation.

[Deleted User] · 29 April 2021 at 10:03PM

I have plenty cases where they have asked for proof of deposit and they've passed it when its not quite all been there. For instance clients who are still saving towards the amount. I've definitely had ones with h2b bonuses being used and they have passed those. As long as they can see where its coming from and it matches to the declared source then it should be fine. H2B ISA's and LISA's arent uncommon so it will be a situation they will have seen hundreds of times before

wishinghome · 30 April 2021 at 6:49AM

Thanks that's reassuring.

wishinghome · 6 May 2021 at 7:07PM

Just to update this, unfortunately Nationwide didn't accept the pending bonus. We've sent a statement for a different savings account now to show we have the funds elsewhere even though we won't be using that money for the deposit. Luckily we have other savings! Hopefully they'll be happy to approve proof of deposit now as that's the only thing left apparently.