Source of Funds

Source of Funds

This article explains how to complete your Source of Funds Questionnaire. Firstly, we recommend reading our article here on finding your additional tasks to complete, which will give you access to the source of funds task, if you have been assigned it.

If you need help with Source of Funds after reading this article, please read our FAQs here.

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. 

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. To find out more information about Open Banking, please view our FAQs here.

Please try and answer any questions to the best of your ability. If none of the sources match your funding sources, please choose the closest source and let the Law Firm who issued your check know. If you are unsure what your Law Firm needs you to provide, please contact the Law Firm directly and they will be able to assist. 

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? Please contact our Client Services Team by clicking 'Submit a Ticket' in the top right-hand corner of the screen quoting your Unique Registration Code .

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.