Gifted deposit & solicitor

Yorkie1

Thrugelmir wrote: »

You are totally missing the point I suspect. As the solicitors responsibilities encompass the Proceeds of Crime Act 2002, Terrorism Act 2000 and Money Laundering Regulations 2007.

Hence lenders will leave the matter in the hands of the solicitor who represents them not only you.

And, just to emphasise this point, the broker doesn't act for the lender. So, if there's a difference of opinion between solicitor and broker that can't be resolved, the solicitor's word is final - because as they act for the lender, they must report problems to the lender and thus can impact on the lender's decision whether to lend.

TLM_77

Broker has been in touch with lender, discussed all of this and lender only asking for bank statement.

Thrugelmir

TLM_77 wrote: »

Basically, my mum never gave me cash specifically for a deposit, therefore, even though I'm using some for some of the deposit, it's classed as my cash from savings.
The word 'gift' has been applied wrongly in that yes the cash given is a gift from my mum to me as early inheritance if you like, there is no 'gift' element regarding the deposit and therefore no requirement to sign a declaration of no interest etc.

As a final sign off from this thread I can only say what a load of twaddle...........:eek:

TLM_77

Thrugelmir wrote: »

As a final sign off from this thread I can only say what a load of twaddle...........:eek:

Riiiiiight....well thanks for that.