Problems with proof of funds - mortgage May collapse

girlie1412

Our valuation was on Tuesday! I really thought wait was over when Kensington came back with more questions this time about deposit of cash into our bank account some month ago which was from the sale of my husbands motorbike which use to gather the dust in a garage for years. As this was sold privately we never asked for any documentations. After Kensington approached us we asked for sale receipt which buyers kindly provided, only means of communication was an email address as we exchanged them on the day of sale.  now new question asked about log book with both our names on it. Buyer is not forthcoming and as we don’t know him it will be hard or near impossible to obtain this. V5 was given on the day, new keeper bits signed so we don’t physically have any paperwork regarding the bike. Needles to say our deposit is 8 times amount without the sale of the bike and we saved and saved for years hoping for the day that we will finally own a house again. My dreams of this mortgage being approved have started to shattered. And I now really don’t know what else I can do to move this along. Regardless of sale of motorbike we have enough deposit in our bank however I feel that wound be of any help to us. 

Any advice welcomed. 

UnderOffer

When you sold the bike did you not tear off the part where you notify DVLA of change/new keeper? It’s now done online but you would receive an email confirmation that the bike has sold as of the date registered online. 

Angela_D_3

Youll be fine,  they have to be really cautious these days but they will accept your proof im confident 

MovingForwards

Where was the bike advertised? Can you not find a copy of it, plus photos of it in your OHs possession eg his FB page, a forum etc. I assume as it was gathering dust there was no insurance on it.

If you sent the V5 off, you (OH) get a letter from the DVLA to say you (OH) is no longer the registered keeper.

girlie1412

Thank you all. There was no insurance as OH was not driving it. It was a purchase some years ago as a mid life crisis 😂 thing to do. Was not insured last 4 years . 

Buyer and OH signed the sections I think 2 and 6 and V5 posted advising of change of ownership, haven’t received anything yet to advise not a registered owner. Contacted DVLNI and advised as not registered owner they are not being forthcoming just advised large backlog due to COVID. 

Buyer not answering emails. Yes have photos of OH and my son with the bike from years ago. It’s just that feeling that even thou we done nothing wrong we are treated as we did. Thank you all for reassurance.