Underwriting process with Leeds Building Society

SunshineI

Mmmm I don't think that is the case... my salary is a bit higher than 30K and the mortgages is 96.863pounds

SunshineI

Ah! and no other financial commitments (have a credit card but don't have to repay a penny, no loans, no sudent loan...)

Yorkie1

SunshineI wrote: »

Hi everyone,

I would like to know what do you think and if someone has had any similar experience with Leeds Building Society.

At the moment my mortgage application is with the Underwritter, heis questioning my deposit because it is mainly being gifted by my boyfriend. A requirement from Leeds Building Society is that gifted deposits are only acceptable from Family, husband or spouse.
My financial advisor has said we are spouse.

The other side of this is that we are not going to be living there together at a first stage, that is why they are considering my application as a single one, any chance they might get worried for him moving in?

We both work and my salary is not an issue for a single application.
The mortgage is a shared ownership one.

Any comments would be appreciated.

Thanks

This may also be confusing the picture. You are not spouses yet your advisor is saying you are. A claim that you are spouses, together with information that he is gifting the deposit to you and will not be living there - really doesn't stack up.

SunshineI

I know doesn´t seem the most sensible thing but, have to trust him at this stage...
Will keep you posted on the result of all this

Thanks!

hcb42

If the money was in a joint account in the first place, why is it a gift...what's mine is yours and all that?

SunshineI

It was in a joint account because we were saving together.
when the moment of the deposit arrived, the amount of money I have transferred is enough to cover the full deposit but, as being in a joint account mu financial advisor said my partner should write a gift letter (even if the money was transfered by me in first instance)