Gifted deposit from Boyfriend & mortgage application

coverica

A couple of questions please:

1. Do lenders accept a gifted deposit from a non family member. i.e. my boyfriend? Is the sitaution made worse if he is going to occupy? And if he doesn't occupy initially but he does later - does this have to be disclosed to a lender?

2. When doing an application with the major lender, e.g. nationwide, halifax, Abbey. Other then payslips and ID, what other proof of income is required? If bank statements, how far back?

Thank you in advance

Thrugelmir

Your questions raise more questions than answers.

You will need to disclose the source of the deposit.

Normally 3 months banks statements.

danielanthony

2. They also write to your employer to get your salary details, length of employment and if you are going to be made redundant in the next few months. Thats what Britannia asked my employer anyway.

coverica

Thrugelmir wrote: »

Your questions raise more questions than answers.

You will need to disclose the source of the deposit.

Normally 3 months banks statements.

I know it needs disclosing, but all reference to gifted deposits are from family members?

Thanks for info on bank statements

diable

Are you his Mistress?

cardinalbiggles

He may also have to sign a form for the bank stating that it is indeed a gift and not a loan. ie. he cant get the money back from you. Otherwise this will effect your affordability as its seen as another loan.

coverica

cardinalbiggles wrote: »

He may also have to sign a form for the bank stating that it is indeed a gift and not a loan. ie. he cant get the money back from you. Otherwise this will effect your affordability as its seen as another loan.

Thanks, that is what we thought. My main concern is that all reference to gifted deposit is always from a family member

Wh05apk

Lenders will normally expect him to be on the mortgage, if he is providing the deposit, any reason he will not be? If he is not going to be occupying the property initially then he will not need to be declared.

Lenders will not "normally" ask for bank statements, Accord/Yorkshire will ask for 3 months, otherwise most will only need statements to show the deposit.

Lenders very rarely write for references, most will only use payslips/p60's.