Gifted deposit plus money transferred from wife

Mozzanov

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

Wh05apk

Will your wife be on the mortgage? if so it shouldn't be an issue.

Annisele

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.

getmore4less

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.