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Proof of deposit for a mortgage

Written By:
Myles Robinson - Expert Finance Advisor

Posted: Feb 9, 2023

Proof of deposit for a mortgage

Although it is essential to go through the mortgage application process, it can be difficult. It may be difficult to show the mortgage lender the evidence that you need to convince them that you are eligible for financing, depending on where the funds came from.

Don’t panic if that is the case. There are many ways to prove non-standard deposit sources. This guide will show you how. This guide will help you to prove different deposit types and how a mortgage lender can assist you.

For more information to seek legal advice, or to jump straight to a topic from the menu below, please read on.

How to prove your mortgage deposit

It will depend on the origin of your mortgage deposit as to how you need to prove it.

Traditional deposit sources such as a personal savings account will require that the money accumulates in your bank account for a certain period of time. This is usually six months bank account statements.

Here is a list of evidence that you will need for each type of deposit.

Personal savings

A minimum of six months of bank statements showing regular income from your employer, pension, or other legal sources, along with the money steadily growing in your savings account or bank account, are the best ways to show personal savings.

You should keep six months of bank statements for each account if you have multiple bank accounts.

Property or other assets can be sold

You should show proof of ownership documents and a copy of the bank statements showing the proceeds of the sale if you have received a lump sum for the sale of property, other assets, such as a boat, car, or other legal sources.

You should also send a copy of your completion statement if the cash deposit comes from a property once it has been sold.

Equity from a property

If you are using equity from an existing property as collateral to pay the deposit for a new one, evidence will not be required unless you negotiate a larger mortgage that covers both properties. They will have complete visibility of your situation.

However, they will require proof that your income is sufficient to pay the mortgage repayments.


If you are funding mortgage deposits this way, executors will need to provide a certificate of inheritance.

You will need to include in this document the amount you are receiving as a beneficiary. A copy of your bank statement will be required to show that the money has been transferred from the executor’s or solicitor’s accounts into your bank account.

Gifted deposits

Your solicitor will need a legal agreement to confirm that the gifted deposits are a gift and that there is no right over the property. The agreement should include details about the gift and must be signed by all the parties.

Save on International Travel

If you use funds from a bank account that is established or comparable overseas, it will be easier for solicitors and investigators to track the source of the money and rule out suspicions of fraud.

The proof can be provided in the same way as personal savings in the UK. The buyer will need to provide copies of a bank/savings statement showing regular in-payments for savings. This must also be traceable.

Gambling winnings

You will need a receipt to confirm your winnings and the amount. A copy of your bank statement should also be provided if you are depositing gambling winnings for a mortgage loan.

However, if your winnings were cash, it will be difficult to prove where your cash deposit came from, which could seriously hinder your chances.


You will find that few solicitors will accept cash proof of deposit. Usually, they won’t accept more than a few hundred pounds.

You should contact a lawyer if you have large amounts of cash that have not been sourced through any of the options described.

What evidence do you need for your mortgage deposit?

Every UK mortgage lender must disclose where the deposit came from. To ensure that mortgage deposits are from legal and legitimate sources, solicitors and mortgage lenders have strict anti-money laundering guidelines and guidelines.

It is important to know where your deposit was sourced from in order to complete the mortgage application. If your deposit was not approved, you will likely have your mortgage application denied. It is important that you are honest with your application.

You will be required to provide proof of where your mortgage deposit funds came from. Lenders and/or solicitors can also conduct extensive checks to verify the claims that you make about the origin of your loan.

There are many ways to prove the source of your mortgage deposit. These include reviewing bank/savings statements, signing contractual agreements and specific forms of certification.

These are the key takeaways from this guide

Some deposit sources are more accepted than others.

Your chances of getting approved for a mortgage and landing a great deal are much lower if you have a deposit source that is not standard.

A broker can help you evidence your deposit:

Mortgage lenders can help you if you are unsure of how to show proof of deposit, or if you think your application might be denied due to non-standard deposit sources.

  • A mortgage broker can assist you in preparing the bank statements, and paperwork and introducing you to lenders who will accept unusual deposit types.

We can help you find the right broker for you:

Brokers who specialize in helping customers with non-standard deposit types will be able to help you. This expertise will increase your chances of success.

You can get matched with a mortgage advisor using our free broker-matching service. This will be based on your specific needs and deposit type.


What is the difference between a mortgage deposit and an exchange deposit?

This is not an additional cost that you will have to pay. The exchange deposit is only a portion of the final deposit amount and must be paid at the exchange. The exchange deposit is 10% of the property’s price. It cannot be refunded if the deal falls apart.

If you put down a 15% deposit you will pay 10% to be used as an exchange deposit. The remaining 5% will be paid upon completion. The only exceptions are if you have a 95% mortgage. In these cases, the full 5% deposit must be paid at the exchange point.

To get an agreement in principle, do I need to provide proof of deposit?

Sometimes it is possible to obtain a deal in principle even without having to prove where your deposit funds originated. However, this agreement is not binding and does not guarantee your mortgage.

If you are interested in a full mortgage, you will need to show proof of your deposit and bank statements.