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Gift Deposit on Buy to Let mortgage
katyjarvis40
Posts: 81 Forumite
I have never applied for a buy to let before and I intend to use a large deposit supplied by my mother to do this, Will the lender have any issues with this? (The Chelsea), is there any legal documents she will need to sign?
Thanks
Thanks
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Comments
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They may ask for a signed letter from her saying that she does not want this gift paying back and there will be no interest charged on this gift
HTHI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Shouldnt be a problem other than the usual money laundering concerns and the fact it must be a genuine gift (not repayable )I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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