Source of Funds

Source of Funds

You may be asked to complete a source of funds questionnaire for your Law Firm. We recommend getting your proof of funds files together before your check. You will be asked upload your evidence as files from any of the below options:

• Mortgage
• Savings
• Gift
• ISA/LISA
• Selling a property
• Selling an asset
• Inheritance
• Divorce Settlement
• Lottery/gambling win
• Compensation award

You can pick as many of the above funding sources as needed. If your funds are coming from a source not mentioned above, please speak to your Law Firm, they may ask you to choose the closest funding source or they may ask you to complete your Source of Funds another way. 

Firstly, for your source of funds task, you will be asked to answer where the property is, and how much the property is. If you are buying the property, please put the full purchase price, if you are a giftor, please put the amount you are gifting towards to the property. 

If the property is overseas, please enter the address manually.

Secondly, you will be presented with a funding overview. You will need to provide evidence of all you funds to get to the full purchase amount. To do this, click 'add funding source'.

Now, you will need to choose the funding sources related to your property transaction, and provide evidence and answer questions related to this source. You can pick as many, or as little, funding sources as required. 

Where required, you may need to provide documentation of your source of funds. For some funding sources, such as savings or ISA's, you will be giving the option of connecting to your bank quickly and securely via Open Banking (for UK banks) or uploading six months worth of bank statements. 

Please try and answer any questions to the best of your ability, and if you experience any issues related which evidence you need to provide, please contact the Law Firm directly so they can tell you what they need from you.

Below shows an example of what the 'savings' funding source will ask. You will need to outline how much savings you will be using, and either provide evidence of this savings via six months worth of bank statements, or connect to your bank via Open Banking.

To connect to your bank via Open Banking, you will be presented with a selection of UK banks. Please click on the bank on your choice, and you will be taken to either the banks app on your phone, or their website to securely log in.

Once you have finished adding funding sources, and your funding is equal to or more than the purchase price, you will be able to submit your answers by clicking 'Submit'. Don't forget to click 'Back to the dashboard' once you have finished, to see if you have any remaining tasks to complete. 

Need help? You can contact our Support Team here. 

We are committed to continually improving our support resources for you. We would greatly appreciate your feedback & comments below to help us enhance your experience.