Big Deposit, Bad credit

Yorkie1

You have to declare the source of your deposit. If you say you saved it, when you haven't, then that is mortgage fraud. And you will be found out when the lender / solicitor asks for proof of accruing the savings.

If by "as a gift", you mean it is to be repaid in due course, i.e. a loan in reality, then by declaring it as a gift then that too is mortgage fraud. Both the mortgage applicant and the donor will have to sign a declaration or letter stating that it is a gift.

You need to be up front.

Thrugelmir

cornsihblue wrote: »

UPDATE

We have now arranged to meet an advisor with ourselves and my partners parents.

Quick question. What if my partners parents gave us the 80k "as a gift." Then took the 100k, and instead of keeping it in the guarantor account, invested it in the house, so we would then have a deposit of 180k for a house worth 240k. Would our chances increase with such a large deposit ? We could then pay her parents over time and their 100k would be safe in the house.

Regards

Having a large gifted deposit does not change the fact that your GF's credit ratings is severely impaired. A CCJ is extremely negative and reflects badly on an individual.

Wait to see what your adviser can source for you.