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Depositing cash into bank account during house purchase?
AndyDufresne
Posts: 65 Forumite
I'm in the middle of a house purchase; I have received my mortgage offer.
I have some cash I want to deposit into my main bank account being used for mortgage deposit/solicitor funds, probably less than £400.
1) If I were to deposit this money, would my solicitor and/or lender require an explanation of where this money has come from? It wouldn't be a gifted deposit.
2) Would it be an issue if I were to reapply for a mortgage a few weeks later (e.g. if house purchase falls through)?
I have some cash I want to deposit into my main bank account being used for mortgage deposit/solicitor funds, probably less than £400.
1) If I were to deposit this money, would my solicitor and/or lender require an explanation of where this money has come from? It wouldn't be a gifted deposit.
2) Would it be an issue if I were to reapply for a mortgage a few weeks later (e.g. if house purchase falls through)?
0
Comments
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I doubt £400 will raise any issues. Something into the thousands maybe.1
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