ScottieGirl Posted August 10, 2017 Author Share Posted August 10, 2017 49 minutes ago, Martinbjulieb said: Our bank, RBS, have confirmed that they can certify that we have sufficient funds without revealing balances of our accounts. Sent from my iPhone using PomsinOz Interesting, I have an account with RBS but the money is stashed elsewehere as the guarantee on RBS is only 85k. As they are being sued by the US state dept for billions I was nervous about that but I see they are now doing better. That said POF is required for all buyers not cash buyers. Mortgagees have to show they have approval in place, there is standard documentation which shows how much they can borrow. I can see why, there is very little stock on the market but quite a few sales round here are falling through so if buyers have more than one offer they may want to choose the safest. Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 10, 2017 Share Posted August 10, 2017 3 hours ago, ScottieGirl said: Have made 2 offers and both agents has asked for proof of funds, one before submitting the offer. The latter then tried to get me to up the offer. Curt words were exchanged. That's really weird, we told the agent we were cash buyers and had the funds and that's as far as it went. Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted August 10, 2017 Author Share Posted August 10, 2017 1 hour ago, bristolman said: That's really weird, we told the agent we were cash buyers and had the funds and that's as far as it went. Out of interest how long ago was that? Quote Link to comment Share on other sites More sharing options...
Martinbjulieb Posted August 10, 2017 Share Posted August 10, 2017 2 hours ago, ScottieGirl said: That said POF is required for all buyers not cash buyers. Mortgagees have to show they have approval in place, there is standard documentation which shows how much they can borrow. I can see why, there is very little stock on the market but quite a few sales round here are falling through so if buyers have more than one offer they may want to choose the safest. Absolutely they would want to choose the safest. The same anywhere I guess. In Perth we had an offer but the buyers were coming from South Africa and both didn't have full residency. Naturally we turned that down!! Too risky!! Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 10, 2017 Share Posted August 10, 2017 13 minutes ago, ScottieGirl said: Out of interest how long ago was that? Only 5 years ago. Quote Link to comment Share on other sites More sharing options...
ScottieGirl Posted August 10, 2017 Author Share Posted August 10, 2017 21 minutes ago, bristolman said: Only 5 years ago. You now have to provide proof of funds to your solicitor to comply with moneyl laundering regs. I guess estate agents play on this. Think these rules came in after you bought. Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 10, 2017 Share Posted August 10, 2017 3 minutes ago, ScottieGirl said: You now have to provide proof of funds to your solicitor to comply with moneyl laundering regs. I guess estate agents play on this. Think these rules came in after you bought. Oh OK, fair enough. It wouldn't have been an issue for us. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.