Proof of Funds (POF)

Proof Of Funds(POF) is a document that demonstrates that a person has the ability and funds available to use for a transaction. It usually comes in the form of a bank, security or custody statement. The purpose of the document is to ensure that the funds required for the transaction are obtainable and legitimate. We want to see evidence that the homebuyer actually has a down payment and / or closing costs in the case of home mortgage loans before agreeing to discuss client enquiries further and/or scheduling a face-to-face meeting if need be.

Closing costs pay for items such as title policies, recording fees, inspections, Courier/Delivery, client account/file setup, Notary, Wire fees, Legal fees, Valaution fees. It is the fees a lender charges to make a loan. As a rule of thumb, closing costs to buy a home run about 2 to 5 percent of the purchase price.

 

Types of documentation accepted:

• Original bank statement in the name of the prospective borrower

• Copy of money market account balance, from a licensed intermediary or financial institution

• Certified financial statement

Useful Information

The FCA does not regulate some forms of buy to lets, commercial mortgages, secured loans, unsecured loans, bridging loans, trusts, agricultural loans, overseas mortgages, and conveyancing or debt management. Our lending to limited companies, incorporated partnerships and unincorporated partnerships of three or more is not regulated by the FCA.
 
Not being regulated by the FCA means that we can make our own lending decisions (incl creative credit options). All loan agreements are still subject to UK Laws and UK Courts.
 
Kindly read all our Terms and Conditions (T&Cs) carefully before you sign any Loan Agreement. If you do not understand our loan contract terms & conditions, invest in the services of a solicitor before you sign.
 
Your use of this website and/or services constitutes acceptance of our T&Cs.
 
If you disagree with our T&Cs and How We Operate, please don't use our lending services.
 

Before You Apply

You should not apply for a loan amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
 
It is an offence to knowingly give false, inaccurate or misleading information when applying for a loan. If you give such information, you may face criminal prosecution and/or civil action for the recovery of any losses incurred by us.
 
Any property used as security, which may include your home or pensions and/or business assets, may be repossessed if you do not keep up repayments on a loan or any other debts secured on it. | Our Repayment Assistance Programme is, however, available to qualified borrowers only.
 
Note: As part of our KYC and anti-fraud checks, you cannot email us from any of the free mail providers accounts as a business, including but not limited to gmail, hotmail, or yahoo. You are advised to send us an email from the email of your business or company website. If you are borrowing as a business and you don't have a website, we can't deal with you. Learn more.