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Solicitors asking bank are they happy with gifted deposit? after offer issued already

2

Comments

  • dannyp86
    dannyp86 Posts: 36 Forumite
    All confirmed ok today and contracts exchanged. :j
    The gift from the wife, she just had to write and sign a letter saying that this is a gift and she agrees that she has no stake in the house.
    Thanks all
  • kingstreet
    kingstreet Posts: 39,465 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Which lender accepted this, please?
    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.
  • betmunch
    betmunch Posts: 3,126 Forumite
    I know a lender which will accept this, although as mentioned above its not the norm.
    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.
  • kingstreet
    kingstreet Posts: 39,465 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    betmunch wrote: »
    I know a lender which will accept this, although as mentioned above its not the norm.
    I can think of one as well.

    I wanted to check if it's the one I'm thinking of...
    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.
  • ACG
    ACG Posts: 24,998 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Who is it?

    I dont know of any lender that would accept this.
    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.
  • Funny_old_game
    Funny_old_game Posts: 180 Forumite
    I'm stunned that's gone through. I'd never allow that if I leant the money.
  • Okydoky25
    Okydoky25 Posts: 1,139 Forumite
    Part of the Furniture 1,000 Posts
    We did the same and had no issues at all.
  • kingstreet
    kingstreet Posts: 39,465 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Okydoky25 wrote: »
    We did the same and had no issues at all.
    Which lender, please?
    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.
  • dannyp86
    dannyp86 Posts: 36 Forumite
    It was with Natwest

    When i first went to mortgage broker, the gift didn't seem to faze her like it has with you lot.

    She just said it's not a problem, as long as my wife wrote and signed a letter to say this is just a gift and one saying she does not claim any stake to the property.
  • zzzLazyDaisy
    zzzLazyDaisy Posts: 12,497 Forumite
    Part of the Furniture Combo Breaker
    dannyp86 wrote: »
    She just said it's not a problem, as long as my wife wrote and signed a letter to say this is just a gift and one saying she does not claim any stake to the property.

    Well that's a joke to start with.

    Try getting divorced and see whether she has a claim to the property!

    The starting point in divorce, for financial purposes, is that ALL assets fall into the joint matrimonial pot for distribution, regardless of whether the asset is in joint names or the sole name of one spouse.
    I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.
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