Gifted deposit question

24

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    clive80 wrote: »
    Hi.
    Yes we are aware that she will have to declare that she has officially no interest in the property.

    Deciding wether or not to gift the money is not an issue.

    The major issue is your partners credit rating with all the mainstream lenders. The longer you leave it before applying for any credit in her name the better. That includes a mortgage.
  • koexelek
    koexelek Posts: 7,847 Forumite
    clive80 wrote: »
    Fraud, really.
    Back to the original point.
    Which lenders would accept a gitfed deposit from a partner not named on the mortgage???
    Any brokers out there or people who have been in a similar position???

    Many thanks

    Santander are worth a try
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • clive80
    clive80 Posts: 25 Forumite
    surely there will be no need for a credit check into my partner as it will be a sole application in just my name.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    clive80 wrote: »
    surely there will be no need for a credit check into my partner as it will be a sole application in just my name.

    You need to declare her as being resident in the property.
  • clive80
    clive80 Posts: 25 Forumite
    yes it will be in my name, but with our baby and my partner declared living with me.
    Am I right in thinking there will be no need to credit check her?
  • clive80
    clive80 Posts: 25 Forumite
    koexelek wrote: »
    Santander are worth a try

    Is this a wind up??!!!


    It states on Santander's website that they dont accept gifted deposits from someone declared as living in the purchased house but not named on the mortgage!!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    clive80 wrote: »
    Is this a wind up??!!!


    It states on Santander's website that they dont accept gifted deposits from someone declared as living in the purchased house but not named on the mortgage!!

    Your future MIL may well wish to protect her daughters interests in a legal form.
  • Lbarn
    Lbarn Posts: 74 Forumite
    clive80 wrote: »
    Hi.
    Yes we are aware that she will have to declare that she has officially no interest in the property.

    Deciding wether or not to gift the money is not an issue.

    I apologise then, I thought that was exactly what you had asked hence the subject title.
  • clive80
    clive80 Posts: 25 Forumite
    edited 9 April 2012 at 5:14PM
    thats fine by us - thrugelmir
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    clive80 wrote: »
    yes it will be in my name, but with our baby and my partner declared living with me.
    Am I right in thinking there will be no need to credit check her?

    She is connected to you. If your child even more so. As there's a financial connection.
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