Proof of Deposit / Equity
This is most commonly in the way of savings from a bank or savings account, as such we would require 3 months bank statements evidencing where the money is and how it was/has been build up. Details of how to obtain these statements are in our bank statements tab (Tab 3).
However, deposits often are gifted by parents/relatives and therefore we will also need to see evidence of this, accompanied by a letter detailing the gift and the terms for it. Speak to your adviser for further information on this as there are varying requirements based on which lender you apply with.
If your deposit is coming from an older relative and we all know how sometimes granny pat is with technology, so should you need any of our helpful team to assist, via face to face (COVID Permitting) or via phone calls, we are always on hand to help!
If you have sold your property and are using the equity towards the sale then we would need to have sight of the memorandum of sale.
One way of sending these effectively is using Office lens, which is a handy app and a smart way of sending documents clearly.
Having trouble saving the documents in the right format?
Use the link below to read a handy guide on document saving and formating.
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Twenty 20 is a trading name of Brook Financial Services Limited which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority. Brook Financial Services Limited. Registered Office: The Old Courthouse, 60a London Road, Grantham, Lincolnshire, NG31 6HR. Registered in England Number: 07311674