showdan

Hi all

I've recently sold my house and some of the equity will provide my $100K bond for my extra 5 points, thats presuming everything goes well (still waiting for my skills assessment.

Anyway, in the mean time I need to invest this money and it appears financially better to spread my money in to several accounts.

My question is:

what proof of finance will I be asked for and is there any considerations I need to make when spreading my savings around, because I am unlikely to have sufficient funds in any one account, but more than enough in all of them put together.

hope I'm making sense

thanks
showdan

Huggy Bear

Don't worry, in reality they don't really care where the money comes from.

So, when you fill in the box to state how you're financing the bond, just write 'savings'.

Huggy

BPadhiar

showdan,

We were told by our agent to present the following information:

Recent mortgage statement, showing outstanding balance.
Valuation by an Estate Agent

This showed in principle we had the money to put in the bond.

Obviously my situation is different to yourself, at the time I applied I did not have the money. I have subsequently remortgaged to take the equity out. (I am going to rent the house here)

I think in your situation you should present a bank statement that shows you have the money, you may also have to make a declaration as to where you got the money from (apparently they dont like you taking out loans to pay for the bond). You have to present the last mortgage statement and also a letter to say how much the house was sold for.

Hope this helps

showdan

Thanks for all the replies, I didn't think there would be a problem, but just thought I'd make sure.

like most people on here I'm super paranoid.

cheers
showdan

Huggy Bear

I know the feeling. Stressful times my friend - but when you look at that lovely sticker in your passport in a few months, you'll wonder what all the fuss was about!!

ptlabs

You just need to pump the money in when DIMA asks for it. DIMA doesn't want to know how/when/where you got the money from (except if you acquired a criminal record in the process of obtaining the funds of course).

Peter