Why do I need to prove my deposit to a lender?
Your deposit is a big part of buying your home and lenders’ requirements can be quite rigid. It affects how much you may be able to borrow, the rate you borrow it at and under what conditions, and what sort of property you would be able to afford.
Proof of deposit is exactly that — evidence of the appropriate amount of money in the bank.
Before you’re approved for your mortgage, lenders will want to see this in the form of a bank statement for the deposit account.
If you use online banking, you should be able to download a bank statement for the account, and upload it to your Habito dashboard securely. Once you’ve done this, your mortgage expert and case manager will send it to the recommended lender, along with all your other documents. If your deposit is part or fully gifted e.g. from parents , the process will be similar, but may require you to provide a few more documents for the lender.