The money matters. So does its story.
Savings, sale proceeds, inheritance and gifts can all be part of a proposed mortgage deposit. What a lender will accept depends on its current criteria and your application. You will also need to show where the money came from, not simply that it is in your account.
Tell your mortgage adviser and conveyancer about every contribution early, particularly if the funds are borrowed, held abroad, come from a business or have moved through several accounts.
What can you use towards a mortgage deposit?
There is no single list that every lender applies. The amount available, your wider finances, who owns the money and the property’s purpose all matter. These are common sources to discuss with an adviser before you commit to a purchase.
Savings and investments
Money saved from earnings, a savings account, a Lifetime ISA or investments you plan to sell may form your contribution. Check any withdrawal conditions and the time needed for funds to reach your account. An investment’s value can change before sale.
Equity and sale proceeds
If you are selling another home, the proceeds after repaying its mortgage and sale costs may contribute to your new purchase. Your conveyancer can confirm the amount and when it will become available. A sale of a vehicle or other asset may also need a clear payment trail.
Inheritance
An inheritance may be considered once you can establish your entitlement and when the funds will be released. Tell your adviser if probate or distribution is still in progress; anticipated money is different from money ready to use.
A gift from someone else
A family member or another donor may offer to help. Lenders and conveyancers can ask who gave the money, whether repayment or an interest in the property is expected, and where the donor obtained it. Read our gifted deposit guide for the fuller process.
Use a mixed deposit? List each source separately. A deposit built from savings, an inheritance and a gift may call for different documents for each part. Moving it all into one account does not remove the need to explain where it originated.
What proof of deposit might you need?
Your lender and conveyancer have different responsibilities and can ask for different evidence. A bank balance alone may not explain how the money was acquired. The examples below are a starting point, not a universal checklist; follow the requests made for your own case and send documents only through the secure route you are given.
| Proposed source | Evidence you may be asked about |
|---|---|
| Regular savings or investment withdrawal | Account or investment statements showing accumulation, sale or withdrawal, and the transfer to the account used for the purchase. |
| Sale of a property or another asset | A conveyancer’s completion statement for property, or an agreement, invoice or receipt and bank record for another asset. |
| Inheritance | Correspondence from the executor or solicitor, relevant estate paperwork and a bank record of the payment received. |
| Gift | A donor declaration, identity and source-of-funds evidence if requested, and the transfer record. The exact form and eligible donors depend on the lender. |
| Money from abroad or a business | Records showing ownership, the original source and transfers. Your adviser or conveyancer may ask about currency conversion, translations, business accounts or company distributions. |
The conveyancer must carry out checks to understand the source of purchase funds. The lender assesses whether your proposed deposit fits its mortgage criteria and affordability assessment. Ask both parties before moving funds or assuming that one set of documents is enough.
Which deposit sources need a closer conversation?
Borrowed money
A personal loan, credit card advance or bridging facility creates a repayment obligation and may affect affordability or conflict with a lender’s deposit rules. Do not describe borrowed funds as savings or a gift. Explain the proposed borrowing before applying.
Business funds
Money in a company account is not automatically your personal deposit. How you draw it may affect your business and tax position. If you are a director, partner or sole trader, discuss the structure with your accountant and adviser before transferring funds. See our self-employed mortgage advice.
Overseas funds
A transfer from abroad may need evidence from the original account and an explanation of how the money was earned or acquired. Allow time for transfers, exchange-rate changes and any additional checks. Your conveyancer can tell you what they need.
Cash, winnings or pension withdrawals
A cash balance, gambling win or pension withdrawal can raise separate questions about origin, availability, tax or future affordability. The answer depends on the facts and the lender. Get appropriate financial or tax advice before making an irreversible withdrawal.
If your circumstances changed after a mortgage decision in principle, tell your adviser before relying on it. An agreement in principle is not a mortgage offer, and a lender can reassess your application.
How to prepare a deposit that can be explained
- Write down every source. Include who owns each amount, whether any part must be repaid, and when the funds will be available.
- Keep the paper trail. Save statements and documents that show the original source and each transfer. Ask before moving money between people or accounts if the trail could become hard to follow.
- Check the full cash requirement. Your contribution to the price is only part of the buying budget. Allow separately for tax where applicable, legal costs, surveys and moving costs. See our mortgage deposits overview.
- Check the payment dates. Your conveyancer will explain any contract payment and the completion balance. See mortgage deposit versus exchange deposit if these terms are causing confusion.
- Speak up before an application. Share unusual sources, gifts or borrowing with an adviser. They can check current lender criteria and explain what may need to be disclosed and evidenced.
You do not need to send bank statements or detailed financial records through an initial public enquiry form. Describe the source broadly and ask how to provide documents securely if they are needed.
Questions about mortgage deposit funds
Can my mortgage deposit come from more than one source?
It may be possible, but disclose each contribution separately. A lender and conveyancer may ask for evidence of the origin, ownership and transfer of each part, such as savings, inheritance and a gift. Requirements vary by case.
Is money in my bank account enough proof of deposit?
Not always. A statement can show that funds are present without explaining how you acquired them. You may need supporting records such as savings history, a sale statement, inheritance papers or donor information.
Can I use a personal loan for a deposit?
Do not assume so. Borrowing creates a debt and can affect affordability or fall outside a lender’s deposit policy. Tell your adviser the source and repayment terms before applying; never present loan proceeds as savings or a gift.
Can a limited company director use company money?
Company money is not automatically personal money. The way it is withdrawn and evidenced matters, and there may be tax or business implications. Discuss the proposed withdrawal with your accountant and mortgage adviser before moving it.
Can I use money from overseas?
It may be considered, but extra evidence of the original source, ownership and transfer can be needed. Tell your adviser and conveyancer which country the money is coming from and allow time for any checks and currency conversion.
When should I tell someone about a gift or inheritance?
As early as possible, ideally before you apply for a mortgage or agree a purchase timetable. A gift can need donor checks, while an inheritance still being distributed may not be available when the money is due.
Know what to explain before you apply
Tell Count Ready whether you are buying your first home, moving or remortgaging; your approximate purchase price; how much you plan to contribute; and the broad source of the money. We can discuss mortgage options and current lender evidence requests. Your conveyancer will confirm the legal source-of-funds checks and payment timetable.
An initial conversation is not a mortgage offer or a promise that a particular deposit source will be accepted.
Sources and scope
- GOV.UK: How to buy a home — identity and source-of-funds checks in England and Wales.
- Solicitors Regulation Authority: Anti-money laundering checks — why a solicitor asks about the source of funds.
- MoneyHelper: How to apply for a mortgage — examples of deposit evidence requested for an application.
Sources checked 23 October 2026. This is general information, not a lender decision, legal or tax advice, or a guarantee of a mortgage offer. Criteria, document requests and the availability of funds depend on your circumstances. Confirm current requirements with your adviser, lender and conveyancer.