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Gifted deposit not accepted by lender.

Bencullen1 · 2014-08-15 11:08:55

Good afternoon all, I have just received a phone call from my mortgage advisor stating that although we are quite far into the purchase of our new home the mortgage company has decided that they cannot accept our deposit as it is a gift from my step father who is not a blood relative. This has come about 8 weeks into the…

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amnblog Posts: 12,730 Forumite

15 August 2014 at 1:55PM

SPM is right - this points are just the kind of things that vary between lenders.

For example LBS exclude gifted deposits from non UK residents.

Other Lenders do not have this restriction.

The biggest problem we have as brokers is that the Lending staff can often not make their own mind up on the rules.

I am a Mortgage Broker

You should note that this site doesn't check my status as a Mortgage Broker, 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.
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