What are genuine savings?

Genuine savings are required when you are borrowing more than 85% of the purchase price of the property.

This means you must show evidence of regular savings over a defined period of at least 3 months.

This may also include:

• A savings pattern (established over a period of 3 months)
• Term Deposit (held for at least 3 months
• Gift (held in the applicants account for at least 3 months)
• Cash (acceptable if held in an account for at least 3 months)
• Equity in an existing property
• Inheritance (held in the applicants account for at least 3 months)