Proof of deposit (another one)

jonnybravo147

I'll go to my main bank Nationwide and ask what they need. Won't necessarily get the mortgage from them, though 

MWT

jonnybravo147 said:

I guess all I can do is download as many statements as I can, and see what paper statements I have. 

Thanks for the replies

Talk to your solicitor before spending too much time on this as they are on point when it comes to determining what proof you need as they will be the ones handling the deposit money and confirming to the lender that they are happy with it.

Jemma01

Hoenir said:

Jemma01 said:

jonnybravo147 said:

I guess all I can do is download as many statements as I can, and see what paper statements I have. 

Thanks for the replies

Don't give them more than they ask for. 

 £250k will require substantial verification. Better to be co-operative than raise suspicions. Lenders aren't desperate for new business. 

He's giving them what they asked for, a proof of funds. There's nothing suspicious about it. If they want more they'll ask for more. 250k for someone in his 50s who's been working all his life doesn't sound off to me. No need to scaremonger.

MWT

jonnybravo147 said:

I'll ask my main bank Nationwide what they need. Won't necessarily get a mortgage with them, though

Mostly a waste of time, it is the solicitor/conveyancer you will use for the transaction that will be likely to have the highest requirements as they will be receiving those funds from you and directly handling them as part of the transaction, that is why they have a vested interest in ensuring the funds are legitimate.

Also you need to separate 'proof of funds' from 'source of funds' as you may be asked for either or both at several stages of the process by the selling Agent, your solicitor/ conveyancer, and the lender. 

jonnybravo147

MWT said:

jonnybravo147 said:

I'll ask my main bank Nationwide what they need. Won't necessarily get a mortgage with them, though

Mostly a waste of time, it is the solicitor/conveyancer you will use for the transaction that will be likely to have the highest requirements as they will be receiving those funds from you and directly handling them as part of the transaction, that is why they have a vested interest in ensuring the funds are legitimate.

Also you need to separate 'proof of funds' from 'source of funds' as you may be asked for either or both at several stages of the process by the selling Agent, your solicitor/ conveyancer, and the lender. 

Did not know that, shows how much I don't know as FTB.

Still early days for me, need to do more research!