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Financial planning for a deposit of 5–25% of the cost of the property.

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Rate:
0
Publication date: 30.07.2025
Reading time: 9 minutes
Number of views: 10
Stage Term (days) Cost
  • 1
    Legal analysis of sources of funds
    2 £221.40

    Lawyer's actions:

    • Identifies the source or combination of sources (salary, inheritance, gift, etc.).
    • Verifies that the sources comply with bank and AML regulations.
    • Analyses tax implications (UK and country of residence).
    • Drafts a preliminary legal structure for approval by the broker.
    • Advises on potential restrictions and prepares an action plan.
  • 2
    Preparation of supporting documents
    5 £430.50

    Lawyer's actions:

    • Checks available documents (statements, declarations, contracts, inheritance, etc.).
    • Prepares a Gift Letter, Source of Funds Letter or explanation (LoE).
    • Organises notarised translations if necessary.
    • Agrees on the list of documents with the broker or bank.
    • Ensures compliance with AML verification requirements.
  • 3
    Support during transfer and coordination with the bank
    3 £307.50

    Lawyer's actions:

    • Prepares instructions for transferring funds to the client account.
    • Checks details and formats to avoid delays.
    • Acts as a contact person for the bank/broker in case of inquiries.
    • Checks the accuracy of amounts, currencies and terms in the documentation.
    • Prepares a final confirmation letter or report (at the request of the bank/solicitor).
In general
10 £959.40

Financial planning for a deposit in the United Kingdom: how to prepare for a 5–25% deposit

The initial deposit in the United Kingdom is one of the most important components of buying a home. The amount usually ranges from 5–25% of the property value, but the strategy for saving and formalising depends on the source of funds, the type of financing and your tax residency.

Legal and financial planning for the deposit helps not only to prepare the required amount, but also to avoid tax, currency or banking complications that could delay completion or even derail the deal.

 

Main sources of funds for a deposit in the UK: what is allowed and how to register it correctly

A deposit does not necessarily have to be formed solely from your own savings. It is important to understand what sources of funds are accepted by banks, what is subject to verification, and what documents you need to have.

Before forming the deposit structure, a lawyer assesses the financial origin of the amount, tax implications, the need for currency supervision and the requirements of a specific mortgage lender.

The most common sources of deposit:

  1. Salary/business income — must be confirmed by bank statements, payslips, declarations.
  2. Sale of another property — requires a purchase agreement + confirmation of receipt of funds.
  3. Gift from a relative (gifted deposit) — requires a Gift Letter + confirmation of the source from the donor.
  4. Investments or dividends — banks require detailed tracking of income and source of assets.
  5. Inheritance/long-term savings — requires documentary evidence (will, probate, bank statements).

After analysing the situation, we form a legal and logical structure for the bank or broker — one that meets the requirements of AML and regulators.

 

Legal and tax risks when forming a deposit in the United Kingdom

Banks in the United Kingdom strictly check the origin of funds in accordance with AML policy. A mistake at this stage can result in account blocking or mortgage denial.

Here are the main risks to look out for before making a deposit:

  • Lack of a clear chronology of the origin of funds.
  • Errors in supporting documents (inconsistencies, unofficial translations).
  • Transfers from accounts that do not belong to the client.
  • Discrepancy between the source of the deposit and the declared profile at the bank.
  • Use of cryptocurrency without conversion into traditional assets (or without documentation).

Our legal support reduces these risks to zero, ensuring a transparent and secure deposit strategy.

 

How to plan the deposit amount and residual costs

When planning a deposit, it is worth considering not only the deposit amount itself, but also all the additional costs that arise in the process of the transaction: mortgage, insurance, legal services, taxes.

Here's what you should definitely consider when planning your finances:

  1. Deposit amount (from 5% — minimum for Help to Buy, to 25% — optimal level for favourable terms).
  2. Mortgage arrangement fee, valuation, broker fees.
  3. Stamp Duty (SDLT), especially when buying a second property or for non-residents.
  4. Legal support: conveyancer services, checks, land registry.
  5. Additional costs: maintenance, repairs, agency services, insurance.

After the consultation, you will have a realistic picture of the total cost of the purchase and an understanding of what funds, in what form and when they should be ready.

 

Advantages of working with a consultant

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We structure the sources of funds in accordance with the bank's requirements

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We assess the tax implications of the amounts received

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We agree on a package of documents with the broker or lender

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We prepare official explanations (LoE) if necessary

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We accompany you until the funds are deposited into your client account

 

Frequently asked questions about planning the deposit amount based on the cost of housing

Question

Can I make a deposit from several sources at once?

Answer

Yes, but each source must be documented. The bank analyses the origin even in the case of a mixed deposit (e.g. partly a gift, partly a salary). We structure this in a legally correct manner.

Question

Do banks accept deposits in foreign currency when buying property in the UK?

Answer

Possibly, but often the transfer must be converted into pounds. We accompany the transaction to avoid currency control violations on the Ukrainian side or tax issues in the UK.

Question

Does the form of the deposit affect mortgage approval?

Answer

Yes. If the deposit comes from a non-standard source (e.g. cryptocurrency, offshore, gift from a friend), the bank may refuse. We agree on the structure in advance with a broker or lawyer.

Question

What if the deposit comes from abroad?

Answer

It is necessary to anticipate currency control, transfer times, AML checks and prevent blocking. We coordinate everything: from the source to the client account in the UK.

Conclusion

Planning a deposit of 5-25% of the cost of the property is not only a matter of financial confidence, but also of clear banking requirements and deadlines. Without professional support, clients often find themselves in a situation where they have the funds, but the bank blocks the transaction. We help structure every step — from preparing documents to actually depositing the amount — so that the purchase is safe, fast and stress-free.

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Service cost

  • Are you planning to use funds from several sources for the deposit?
  • Are any of your sources gifts from relatives or acquaintances?
  • Will the funds for the deposit come from abroad?
  • Do you know what documents the bank needs to confirm the source of the deposit?
  • Are you planning to buy with a mortgage?
  • Would you like to receive a preliminary analysis of your sources of funds before submitting an application to the bank?
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