We're reducing the number of proofs we need for source of deposit

We're pleased to let you know about some changes we're making to NFI Online and NFI MTE from Monday 30 April, which will help provide an improved broker and client experience.

1. Savings proofs

We're reducing the number of proofs we need to see for source of deposit. In NFI Online and MTE, for new purchases, you'll notice two new options that replace the previous generic 'Savings' option.

These are:

  • Savings account in UK or EEA - we'll now only need 1 months statements for savings held in an EEA account (previously 3).
  • Savings account outside of UK and EEA - we'll now only need 3 months statements for savings held in a non-EEA account (previously 6).

It's important that you select the right option (if in doubt please check a list of EEA countries) and only provide us with proof of deposit if we ask for it.

2. Child benefit proofs

We'll no longer ask for proof of child benefit (please note, this change was effective from 24 April). Where a client wishes to use child benefit you must continue to key it, but proofs are no longer needed.

3. Gifts

We're changing how we define a gift. So, if a client tells you their deposit was gifted to them over 12 months ago, we'll now be treating this as Savings. This means you'll need to key this as Savings and not as a gift.

4. Repayment of a loan

If a client has lent money to friends or family, which was repaid to them over 3 months ago, we'll now accept this as Savings.

There aren't any changes to the way proofs are assessed, but to ensure your cases progress as quickly as possible, please don't submit proofs that we haven't requested.

Please be aware that whilst we implement these changes, NFI Online and NFI MTE will be unavailable from 12pm on Sunday 29 April until 8am Monday 30 April.

Visit our dedicated webpage for more details on these improvements.