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Deposit

Last post Sat, Jul 04 2009, 3:27 PM by huckster. 1 replies.
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  •  Sat, Jul 04 2009, 1:47 PM

    Deposit

    If a family member is providing help with deposit, in order to prove this to the bank, will a bank statement do or will they need to see family member in person?
    • Post Points: 20
  •  Sat, Jul 04 2009, 3:27 PM

    Re: Deposit

    Captain100

    I am presuming that this post is connected to your last concerning deposit for house purchase. If you are borrowing the money from a relative, the bank would not really be that interested. The money should be deposited with your bank, available to transfer when requested. Show them statement or ask them to check account once in account. Or if time is short, your relative could give you a bankers draft payable to relevant person or arrange bank transfer to relevant account.Deposits are often paid to your solicitor and banked by them, so they can transfer when needed.

    The bank will be concerned if you borrow from a loan company as this may stop them providing a mortgage.

    Huckster

    • Post Points: 5