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  • FIRST POST
    • Pantobabe
    • By Pantobabe 5th Dec 17, 8:58 PM
    • 7Posts
    • 2Thanks
    Pantobabe
    Deposit for a new build
    • #1
    • 5th Dec 17, 8:58 PM
    Deposit for a new build 5th Dec 17 at 8:58 PM
    Hi there,

    I am in the process of just going to reserve a plot on a new build that has become available. Using the Help
    To Buy the deposit I need to pay is £11,250. Around 6 months ago once I had saved £4000 I transferred this to a family member for her to keep safe for me (so I wasn’t tempted to dip into it) and I now need this transferred back to make my total savings in my bank £11,250, enough for the deposit.

    I never thought that my family member transferring me
    This money back would be a problem, but reading some posts on here, could it affect my ability to get a mortgage if they see the money transferred back into my account- will they question it? If so, how do I get around this?

    Thanks in advance!
Page 1
    • Pantobabe
    • By Pantobabe 5th Dec 17, 8:59 PM
    • 7 Posts
    • 2 Thanks
    Pantobabe
    • #2
    • 5th Dec 17, 8:59 PM
    • #2
    • 5th Dec 17, 8:59 PM
    I should add I’ve already got an agreement in principle
    • Pixie5740
    • By Pixie5740 5th Dec 17, 9:00 PM
    • 11,196 Posts
    • 15,643 Thanks
    Pixie5740
    • #3
    • 5th Dec 17, 9:00 PM
    • #3
    • 5th Dec 17, 9:00 PM
    I imagine your solicitor would question it. (S)he has to be satisfied that a) the money was yours in the first place, and b) that there’s no money laundering going on.
    Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
    • Slithery
    • By Slithery 5th Dec 17, 9:05 PM
    • 361 Posts
    • 524 Thanks
    Slithery
    • #4
    • 5th Dec 17, 9:05 PM
    • #4
    • 5th Dec 17, 9:05 PM
    A letter from your family member stating that the money is repayment of a loan should be all you need. Especially since you have proof of the money leaving your account in the first place.
    • davidmcn
    • By davidmcn 5th Dec 17, 9:37 PM
    • 6,260 Posts
    • 6,039 Thanks
    davidmcn
    • #5
    • 5th Dec 17, 9:37 PM
    • #5
    • 5th Dec 17, 9:37 PM
    You can't "get around" it, you just need to explain it to your solicitor and show them both transfers (and as suggested, a letter from the other party). Up to your solicitor what evidence they need to show that it's genuinely your money.
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