Sources of Funds

[catandpanda]

Trying to buy house as fast as we can so can get school places but solicitor says they won't start without sources of funds form and have now sent to us. Will fill it in but what further proof are they likely to ask for or none?

Funds from employment for DH - easy as same employer for donkeys years. Me - Funds from flat sale years ago which could cover whole amount or can use earnings but changed jobs often and bank accounts. Thanks very much.

Usually will want "proof of funds" ie: evidence of mortgage (if applicable) and current bank accounts/savings/bonds/etc (with name and address on) to prove you can cover the cost.

Evidence of salary, etc, is usually if you are requiring a mortgage?

They will need to see 1. that you have the funds and 2. where they have come from - ie savings over time (produce a series of bank statements showing the funds accumulating over that period) Inheritance, show soliciotrs letter paying you inheritance, sale of another property?vehicle? etc

Thanks very much. The current amount of funds is no issue but I've moved money round so much and closed accounts a lot we could have trouble with the building up over time.

you're going to have to find old statements to show the money moving from account to account unfortunately.

Solicitor just replied that we won't need to find that but we will see. I'ld rather anticipate the issues but some closed accounts I don't have.