Buying a Home? Here's What You Need to Prove Your Funds

To buy a property, it's a standard part of the process to prove your financing, whether you've got a mortgage in place, a generous cash gift, or otherwise. To make sure you can buy the property, you'll need to prove it.

When buying a Purplebricks home, our partners at Lifetime Legal will need evidence of how you and any additional buyers will fund your property purchase. Take a look at what documents to prepare.

Keep in mind: The documents you provide should cover the whole offer amount and must show how each buyer is funding their part of the purchase. You only need to prepare documents relevant to your specific funding sources.

Below are accepted documents:

1. Mortgage Agreement in Principle

   1. This needs to be from a recognised lender and be valid (i.e. in date).

2. Mortgage offer

   1. This needs to be from a recognised lender and be valid (i.e. in date).

3. Recent mortgage statement evidencing equity dated within the last 12 months.

4. Title deed for the property being sold to fund the purchase evidencing there is no mortgage

   1. Dated within the last 12 months

5. Memorandum of Sale for a property.

6. Help to Buy ISA documentation

   1. This is not always a printed statement as the account will require closure to proceed when appointing a solicitor. An online screenshot evidencing name/transactions and account number is sufficient.

7. Bank statements from giftors

   1. 3 months of bank statements evidencing gifted funds and legitimacy of funds.

8. Gift of money form

   1. This is a statement provided by the individual gifting the funds to state this amount and that it is a gift. Ideally this should also state the recipient is not liable to pay this back. This needs to be dated and signed by the individual gifting the funds.

9. Letter or email confirming a gift of money which sets out their full name, address, and date of birth

   1. This must be dated within the last 3 months.

10. Evidence of a bank loan

    1. Official letter clearly stating the amount including the buyers name and address.

11. Bank or building society statement

    1. 3 months of statements that show the buyer’s full name, address, date of statement and account number

12. Premium Bonds account

    1. Must show the buyer’s full name, address, date of statement and account number.

When buying a property with us, you’ll need to send all documents to our partner, Lifetime Legal. They’ll handle your proof of funds and carry out anti-money laundering checks at the same time.

We know it can feel daunting to gather the right documents, but Lifetime Legal will be there to guide you through the process — making sure you have everything needed to support your offer, whatever your circumstances.

If you have any questions, contact your Lifetime Legal representative.