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Evidence of deposit required?
Comments
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easilydistracted wrote: »DVardysShadow do you really think this will be necessary? The money from my Mum it would be quite possible to send to the rent and some bills, but the money from my Dad is in an ISA from March, where the money he gave me makes up nearly the whole amount. As were not looking till next year hope that will be long enough to count as ongoing savings, it was not specifically for a deposit but was what kick started us saving. Also, I am trying to save £950 a month from October (if I don't collapse from overwork before then!) and my partner £250. The rent is £750 so if we were 'saving' that amount then the total amount for that month would be neary £2000 so would probably not solve the cumulative savings bit. I'm not intending to touch Sandtander with a barge pole, as I am looking at a mortgage that has some level of ethics if at all possible. Thanks again. Signature is not up to date by the way
i had a deposit of 28K with my house at the time of completion 10K of it came from my mum i had to take out some idenmity guarantee insurance via my solicitor cost me £200 extra as it was a gifted deposit basically if i defaulted on the mortgage that my mum would not have any rights to the 10KI am NOT a mortgage advisor nor a professional in any debt related matters my replies to posts reflect my personal view only and experience in life time situations that may or may not be of any use to you if you need advice speak to a professional0 -
aimzrabbit wrote: »i had a deposit of 28K with my house at the time of completion 10K of it came from my mum i had to take out some idenmity guarantee insurance via my solicitor cost me £200 extra as it was a gifted deposit basically if i defaulted on the mortgage that my mum would not have any rights to the 10K
Very strange, had many, many clients with different solicitors with gifted deposits and none required to take out such an expensive insurance...I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Very strange, had many, many clients with different solicitors with gifted deposits and none required to take out such an expensive insurance...
well thers is always a 1st this was 3 years ago.... mind you I can assure you i parted with the £200 sheetsI am NOT a mortgage advisor nor a professional in any debt related matters my replies to posts reflect my personal view only and experience in life time situations that may or may not be of any use to you if you need advice speak to a professional0
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