Cashback Remortgages · Eligibility
Evidencing the Source of Your Deposit
Lenders and conveyancers must verify where your deposit came from as part of anti-money-laundering checks. Providing clear evidence early prevents delays.
Why it is checked
The source of funds must be legitimate and documented. Savings, a property sale, a gift or an inheritance are all acceptable but each needs appropriate evidence, such as statements showing the build-up of savings or a gift letter.
Large unexplained deposits into your account can raise questions.
What to provide
Keep statements showing where the money came from, and for gifts a signed letter and the giver's evidence. Prepare this before you apply.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.