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Proof of deposit question

2 replies

Tohaveandtohold · 09/04/2018 13:59

FTB here so quite clueless. I have a question with regards to my proof of deposit. Our mortgage application is progressing and we will be having survey done by the bank tomorrow however I have just had an email from them saying our deposit is £800 short.
Basically we sent in 3 account statement, 2 were savings account statement and one was a current account which had an amount of over £900 in it. Are current account statements not acceptable as proof of deposit?

Just to add, the reason why we left the £900 in that current account is just incase we need to spend out of it on the interim though we haven’t. All these are just drawing things back and it’s getting to us and now wish we went through a broker.

OP posts:
wowfudge · 09/04/2018 14:08

As different lenders have different criteria and rules they follow, ask them why they think your deposit is £800 and get clarification from them. If it is because it's in a current account then you can simply transfer the money to a savings account. If it's for some other reason then you can address that.

SlothMama · 09/04/2018 16:15

Our broker wouldn't accept money in a current account as deposit as it can spent (I could just as easily spend my savings?!)

In the end a family member wrote a letter saying that at time of exchange they would cover any shortfall and that was accepted!

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