Help with gifted deposit

xr2_kid

Hi this is my first post on this site and im in need of some advice, we put an offer in on a house with a 75% mortgage which was accepted. the problem we are having is that the deposit is coming from my partner who is not going to be on the mortgage due to her leaving uni and having no income that can be taken into consideration. she is more than happy to gift the money and we thought if our solicitor drew up a deed of trust this would be fine. 6-8 weeks into the purchase they have just come back and told us the lenders arent happy with this due to the fact my partner will be living there. The lender is The Abbey. Im really stuck now we have invested hundreds in having the house surveyed and solicitor fees. Please can someone give me some advice on what my next step should be? Many thanks Paul

GMS

Can your partner not be added to the mortgage? Not necessary to have an income if yours is sufficient.

xr2_kid

the problem now is if we do this the amount they will lend us will decrease due to 2x peoples cost of living. therefore we wont have enough to purchase the house. Thanks Paul

TMSL

I would talk to a good broker and ensure that you use a lender that accepts this form of deposit. Good luck

Cannon_Fodder

If it was always planned that she was to live there, then shouldn't affordability have already taken 2 people into account?

Was there some "fudging" of the occupants, before the deposit drew the lender's attention to her presence?