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Gifted deposit plus money transferred from wife
Mozzanov
Posts: 188 Forumite
Hi,
I am going to start making enquiries about getting a mortgage. My father is going to give me the deposit as a gift, but my concern is really with some money my wife is going to give me. She is in the UK on a settlement visa and has an income from renting property back in Russia, which is paid into her Russian bank account. She is going to transfer £2000 to me for going towards conveyance and general moving costs, so this will obviously show up on my bank statement and might (will definitely, I guess) look odd. I am really not sure how this will be viewed, even though it's from my wife?
It is one of many things that has come to mind.
Regards,
Mozzanov
I am going to start making enquiries about getting a mortgage. My father is going to give me the deposit as a gift, but my concern is really with some money my wife is going to give me. She is in the UK on a settlement visa and has an income from renting property back in Russia, which is paid into her Russian bank account. She is going to transfer £2000 to me for going towards conveyance and general moving costs, so this will obviously show up on my bank statement and might (will definitely, I guess) look odd. I am really not sure how this will be viewed, even though it's from my wife?
It is one of many things that has come to mind.
Regards,
Mozzanov
0
Comments
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Will your wife be on the mortgage? if so it shouldn't be an issue.I am a mortgage adviser.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.0
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I think the money would overcomplicate things. Lenders are not at all keen on gifted deposits from a person who'll be resident in the house but not named on the mortgage. I suspect the Russian bank account might spook them even more.
For £2,000, if you can afford to do it without the transfer I wouldn't bother. If your wife wants to buy some furniture in a few months that's entirely up to her.0 -
would be easier if she just started paying for more normal stuff during the search for somewhere, you save an extra £2k over that time.0
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