Proof of funds with existing loan

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Old May 22nd 2019, 5:25 pm
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Default Proof of funds with existing loan

Hi guys I have a question regarding proof of funds. I have the full amount required ($12669) which was gifted to me by my parents along side my a gift deed. However I also have just under 2000 outstanding on a personal loan which was used to buy a car. I am paying this off monthly by direct debit. My question is, does anyone know if I need to ensure I have another 2000 in my savings to cover the loan or am I okay?
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Old May 22nd 2019, 6:08 pm
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Default Re: Proof of funds with existing loan

Originally Posted by quinny1991
Hi guys I have a question regarding proof of funds. I have the full amount required ($12669) which was gifted to me by my parents along side my a gift deed. However I also have just under 2000 outstanding on a personal loan which was used to buy a car. I am paying this off monthly by direct debit. My question is, does anyone know if I need to ensure I have another 2000 in my savings to cover the loan or am I okay?
You're fine. Do note though that the proof of funds amount is considered by most to be unbelievably low, so the more you can save over that amount the better. It won't last long once you move unfortunately.
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