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First time buyer family gifted deposit

rosiehashmi
Posts: 6 Forumite
hello all, this might seem a silly question but i am a first time buyer and i have my official mortgage offer in place-(the valuation also has been done) my parents want to gift me a deposit of £17000. My question is that would the bank/solicitor want to see the bank statements or would a letter from my parents be enough? please help!
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Comments
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When we were doing this I had the money deposited into my account to prove its existence and the Bank/ Solicitors needed it in writing on the forms it was 100% a non returnable gift.0
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but did they ask for bank statements of the person who gave it to you?0
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We were told by our broker that because some of our deposit was coming from my OH's dad that he would have to go through the same money-laundering checks as us so he also has to provide ID and bank statements, apparently a letter wasn't enough.First home purchased 09/08/2013
New job start date 24/03/2014
Life is slowly slotting into place :beer:0 -
what would happen if my parent took out a loan and gifted me the money for a deposit? i wouldnt pay it back-he would!0
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