Customers who need a mortgage must provide a minimum 5% (of the share being purchased) deposit.

Customers must evidence the source of the deposit by providing bank statements showing the funds accruing.  If the funds have been transferred into the bank account, for example an investment, evidence of the original source must be provided.  Customers may receive a gift from family sponsors to enable purchase.  To evidence this, sponsors must provide:

  • a signed letter confirming the gift is unconditional, not repayable and does not entitle them to any interest in the property;
  • proof of ID, for example a certified copy of passport or driving licence;
  • proof of address, for example, a certified copy of a utility bill or bank statement; and
  • evidence of the source of funds, for example, three months banks statements (or certified copies).