Mortgage deposit question

[goluraam]

Hi All,

I am saving deposit to buy a property some time in October. I have lend money to my mates and my family couple of years back and they are going to give me back in June.

Do you think lenders will have issues if they see a all-of-a-sudden deposit of 24,000 in my account that forms a major part of my deposit ?

please advise.

thanks,

Golu

[AshfieldFOCUS.com]

Personally, I can't see a problem with it. If the lender is with a different company than your deposit money, they have no right to snoop into your private accounts. However, if they are being a bit picky and you can show that you lent money out (according to your bank statements), then I can't see a problem.

BTW. I am NOT an agent, lawyer, financial institution or anything else like that. I would say speak to a financial advisor. You can contact mine by going via... Ashfield See how much you can afford on your mortgage - FOCUSPortals - AshfieldFOCUS.Com.

Hope this helps.

[BTLMortgages]

Originally Posted by goluraam

Hi All,

I am saving deposit to buy a property some time in October. I have lend money to my mates and my family couple of years back and they are going to give me back in June.

Do you think lenders will have issues if they see a all-of-a-sudden deposit of 24,000 in my account that forms a major part of my deposit ?

please advise.

thanks,

Golu

No it will not be a problem as far you have good reason as you have.

[Ronny]

No problems here although you may be asked to justify where the money come from and perhaps give evidence supporting this.