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How much evidence do you need statement wise?
LondonSouth556
Posts: 44 Forumite
On the start of the path to buying a place on joint mortgage. Would anyone know how much evidence you need with regards to bank statements?
It is just I use fixed rate yearly savers, multiple accounts every year and then dump the proceeds into my main account and then put the money elsewhere again. I also buy and sell gold so have that money coming in and out every now and then. Are they likely to want proof of where every penny in the account came from?
I might be able to get some recent statements, but I can't really prove where the money from a gold sale six months ago came from, or get access to statements for fix term savers which closed a year ago. Is it likely to cause an issue. To add I have a DIP and they did not ask for evidence of the deposit.
It is just I use fixed rate yearly savers, multiple accounts every year and then dump the proceeds into my main account and then put the money elsewhere again. I also buy and sell gold so have that money coming in and out every now and then. Are they likely to want proof of where every penny in the account came from?
I might be able to get some recent statements, but I can't really prove where the money from a gold sale six months ago came from, or get access to statements for fix term savers which closed a year ago. Is it likely to cause an issue. To add I have a DIP and they did not ask for evidence of the deposit.
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Comments
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For Nationwide they only required 1 month from me.
They do require proof of savings that are being used as deposit. This was just a quarterly statement.1 -
We were asked for 3 months statements and 3 months payslips, not 6.1
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The lender may not ask for proof of deposit but your solicitor (who will be acting for the lender as well) will.
My lender only asked for a payslip (1 month for Halifax) and proof of ID.
My solicitor asked me to prove where my deposit came from. I wasn't asked about my bank statements line my line. I sent 6 months worth of bank statements which showed my salary coming in and savings going into my ISA. I gave her my ISA annual statements going back 3 years (which I had to hand). She was happy that I had shown it was reasonable for me to accumulate the savings I had, given my salary. I included a cover letter explaining it. She didn't specify what she needed but what I sent was enough. (My parents sent me money and that proof was a lot more complicated due to lump sum payments etc.).1 -
Ok thank you I guess I will just send every statement I have in the last six months and hope for the best!0
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The solicitor will clearly and easily wish to see the source of your deposit. Don't expect them to spend time unravelling your personal financial affairs.LondonSouth556 said:Ok thank you I guess I will just send every statement I have in the last six months and hope for the best!1 -
This depends on your individual circumstances, but it is usually 3 months worth of bank statement.0
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