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Help - Advice on Gifted Deposit from Partners Parents
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It's not normally an issue for the lender at the application stage. It's picked up by the solicitor handling the lender's interests later on, as I mentioned in posts #5 & #9.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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So Nationwide is a definite no!!! Luckily no charges yet, phew! A different Mortgage Advisor reckons Halifax is a good option as processed a similar case 3 wks ago and it went through fine. Hate the risk that they will probably say yes to start with but then this could come up as a problem at the underwriting stage, is there any way of getting a guarantee from the lender up front that this will not be an issue?0
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is there any way of getting a guarantee from the lender up front that this will not be an issue?
You need to be upfront as well. As Kingstreet said in earlier post, lenders will view this as "avoidance". Another person not named on the mortgage will have a vested financial interest in the property. The lender may well assume the worst regarding the other individual as well.0 -
Thats what I mean, I plan to tell the lender exactly where the gift of deposit is coming from up front but they still don't appear to be able to give a guarantee that it wont be a problem when it gets to underwriting!0
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do you have assets you can sell?Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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