Gifted deposit

Ollie1987

Hi, i was wondering, does it matter where gifted deposits come from ?i was gifted part of my deposit from a family friend. Is this likely to cause problems? Would they prefer it from an immediate family member?

Thanks

Ollie

Dave_Ham

Depends upon which bank and what the rest of the case looks like...

Some banks will not like this..

Ollie1987

Thanks for the reply Dave. If i get a gifted deposit from my mother, would they ask to see her bank statement to see how long she actually had the funds in her account?

Thanks

Ollie

Dave_Ham

No, most banks will not although some solicitors might as part of money laundering checks.

Ollie1987

Thanks again Dave.

Yorkie1

Ollie1987 wrote: »

Thanks for the reply Dave. If i get a gifted deposit from my mother, would they ask to see her bank statement to see how long she actually had the funds in her account?

Thanks

Ollie

You're not proposing mortgage fraud by lying about the real source of the deposit, are you ... ?