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  • FIRST POST
    clive80
    Gifted deposit question
    • #1
    • 8th Apr 12, 9:45 PM
    Gifted deposit question 8th Apr 12 at 9:45 PM
    Hi.
    I have just come across this site and i am looking for some help with my/our future mortgage application.

    Situation is as follows.
    We currently rent but want to buy.
    I earn 23k a year, very clean credit file, no credit cards, loans or other commitments.
    My partner who has just had a baby does'nt obv work, but has a terrible credit history. Had several defaulted debts in past and a ccj or two, have all been paid within last year, so as I understand it come 6 years will be clean.
    However partners mum has given her 40k as a deposit.
    Have been looking in paper a properties valued at around 125k.

    I know that we have no chance of a joint application and if by chance we could get approved we would be on a terrible rate i should imagine.
    So my QUESTION IS do lenders frown upon/ decline gifted deposits from a partner who is not named on the mortgage???
    i.e a sole application in just my name.

    Many thanks.
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