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  • FIRST POST
    • dhokes
    • By dhokes 4th Dec 17, 6:17 PM
    • 120Posts
    • 12Thanks
    dhokes
    Gifted cash towards a house deposit
    • #1
    • 4th Dec 17, 6:17 PM
    Gifted cash towards a house deposit 4th Dec 17 at 6:17 PM
    I'm a first time buyer in the process of purchasing a new build home.

    I've got a mortgage offer and as part of the application process, I had to submit a letter from my mother to declare the cash she has gifted me.

    I'm waiting to exchange contracts, specifically my solicitor, and that he's happy all the legal obligations are met. Currently, he's waiting to hear from the lender that they are happy with the gift from my mother, together with the Help To Buy, from the vendors.

    Is this required given that my mortgage application contained this information and I was given an offer?

    Personally, it appears that they are taking their time with this and not trying to resolve this as fast as they can. Is there anything I can do to try to make them work with greater urgency?
Page 1
    • agrinnall
    • By agrinnall 4th Dec 17, 6:34 PM
    • 18,703 Posts
    • 14,416 Thanks
    agrinnall
    • #2
    • 4th Dec 17, 6:34 PM
    • #2
    • 4th Dec 17, 6:34 PM
    If they're waiting to hear from the lender there isn't a lot they can do. I know it's a stressful time but just take a deep breath and relax.
    • Flutterbat17
    • By Flutterbat17 4th Dec 17, 6:37 PM
    • 63 Posts
    • 57 Thanks
    Flutterbat17
    • #3
    • 4th Dec 17, 6:37 PM
    • #3
    • 4th Dec 17, 6:37 PM
    We’re in exactly the same boat, seems like we’re in some weird limbo land at the minute Just waiting and Solicitors dragging their heels :/
    • davidmcn
    • By davidmcn 4th Dec 17, 6:54 PM
    • 6,259 Posts
    • 6,037 Thanks
    davidmcn
    • #4
    • 4th Dec 17, 6:54 PM
    • #4
    • 4th Dec 17, 6:54 PM
    he's waiting to hear from the lender that they are happy with the gift from my mother, together with the Help To Buy, from the vendors.

    Is this required given that my mortgage application contained this information and I was given an offer?
    Originally posted by dhokes
    In my experience, lenders are useless at mentioning these things in their instructions to solicitors, so yes it is required for the solicitors to check directly with the lenders - otherwise the default is that all the deposit is meant be your own funds.
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