Help with keying deposit details

Top tips

• Funds from minors (under 18's) are no longer acceptable. This applies regardless of the age of any additional joint account holders or trustees.
• A Gifted deposit form is required for any gift amount where the funds are held outside of the UK.

Top tips for keying Help to Buy

• Only your client's deposit (minimum 5% of the full market value) should be keyed on this screen. Additional deposit sources can be keyed by clicking 'Add an entry'.
• The equity loan source should not be keyed in this section. If the system is requesting this to be added, you'll need to return to the 'Loan requirements' screen and ensure the application has been keyed as Equity Share.
• Ensure the figures are correct in 'Loan Requirements':
  • In the loan amount field, enter the full market value, minus the government loan and clients own deposit.
  • In the Purchase price of share, enter the full market value, minus the government loan only.

Top tips for keying Forces Help to Buy

• Make sure you've keyed the ownership type under 'Loan requirements' as 'Standard'. If not, please amend to this.
• Once the ownership type is correct, 'LSAP' will appear as a deposit source to select on the deposit details page. Choose this option.
• In the deposit field, key the amount coming from LSAP. Please also enter here the monthly repayment for the Forces Help to Buy loan.
• Key any additional deposit source by clicking 'Add an entry', as required.

If you're having trouble keying deposit details, check the following scenarios and guidance:

Are you getting 'the maximum LTV for this application is 95%' message?

• If the application includes a vendor cashback, please go back to the 'Loan Requirements' section and reduce the amount keyed in the purchase price by the amount of the vendor cashback. You'll need to include the vendor cashback in the 'Deposit Details' section, this will then increase the LTV.

When you click 'Continue' are you receiving an error message?

• Ensure all fields are completed and that you've only entered numerical characters with no pound signs.

Not allowing you to select the right source of deposit?

• Ensure you've selected the correct ownership type in 'Loan Requirements', as the source of deposit changes depending on what you've chosen.