Proving deposit for mortgage - help!

[Netguru]

The mortgage brokers have asked for bank statements to show we have the funds we need for our purchase. I have hit an absolute brick wall.

All our savings accounts are online savers (barlcays and nationwide) - they offer better interest rates. They allow you to monitor your accounts online etc. They do allow you to print out statements but not in the format acceptable to the mortgage (abbey national). We have offered to get a letter stating how much we have on deposit but apparently that is no good either as they wish to see where it came from!

I have absolutely no idea what to do next.

You say 'the mortgage brokers' have asked - do you mean the mortgage company or a broker? Because an independent broker would help you solve this kind of problem - it's exactly why you use one - they know what companies accept what proof. Your situation can't possibly be unique - loads of people now bank online - so there will be companies that accept online proof and/or your broker's guarantee.

When we were told that print outs from online were not good enough, I just called the bank and asked them to send me statements, which they did. They arrived in a few days, I remember being shocked at how quick it was! Can you do that?

I'll try. Thanks to all who replied. Fingers crossed.

We had to ensure the print-out had the https website pathway in the footer. That was enough for HSBC.

That was mentioned to me - but nothing does. Not sure if it because I'm viewing and printing from a mac.

I'd suggest meeting with the broker, logging into your bank accounts and suggesting that they update their procedures to reflect the modern reality.

Its like building societies asking for "audited accounts" on sole traders when there is not (and never has been) such a thing ...

We had this exact problem. We went into the bank (nationwide) who couldn't really help as they couldn't provide statements. What we did was use the print outs, then we gave details of our monthly transfers and statements from our current accounts which were set up to transfer the money into the savings account- this was proof of where the savings came from. Finally we went into the bank and they wrote a letter to verify it all.

It was a pita and given the nature of banking now, mortgage providers ought to be more flexible! Good luck.