Deposit for Mortgage Question

Yorkie1

I also don't know why you're suggesting that the interest rate or risk will be raised automatically - didn't happen to me or any of my friends who have had a gift from their parents to assist with the deposit. That's just scaremongering really.

Blue_Horizon

We are going thru this at the moment and our solicitor is being a real pain over us providing evidence of source of funds. It's not enough to be able to show where the money came from (in our case as a result of our divorce settlements) we also have to give a paper trail of where's been. My wife put some savings in a B&B on-line account a couple of years ago and the sols want statements that we don't have and Santander say they can't provide.

So my advice is declare it as a gift, this will avoid any potential questions later on.

marlasinger

Blue_Horizon, that is what I was wondering about - the hassle of having to provide a paper-trail - which is the reason I was asking the easiest way to explain where the deposit has come from. I think I shall declare it as a gift then, as that seems the easiest way to go.

Property.advert, I think you should read posts more carefully in future, to avoid making embarrasing replies, and then having to cover them up again with further pointless, snippy remarks. :rotfl: