A deposit booster is someone that is able to help you buy a property by contributing to the deposit.
They are not on the property deeds as an owner, nor are they liable for the mortgage. This means we won't need to assess their income, financial commitments or credit score as part of the application.
However, we will need to receive evidence of their identity through an identity document (ID).
We will also need to evidence proof of address via the voters roll. If they are not on the voters roll, we will require evidence of proof of address via other documentation. You can find more details here on what would be acceptable as proof of address.
Checking the voter's roll means we will perform a soft credit search. This will not affect their credit score in any way, nor will any search results affect the mortgage application. This is worth being aware of as they may see search results on their credit file.
In order to comply with anti-money laundering regulations, we will need the deposit booster's Nationality and National Insurance number, so it is worth having this on hand to input into the dashboard.
The conveyancer will also need to verify the source of deposit, this can be done by sending over bank statements.