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First time buyer with mis-payments
Comments
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Thanks Dave, This is Nationwide. In their website it doesn't say that they are accepting only from family members. Below is the link
http://www.nationwide.co.uk/~/media/MainSite/documents/products/mortgages/Confirmation-of-Gifted-Deposit.pdf0 -
There is a reason it asks for the donors relationship with the borrower?
Was the broker not aware of this deposit situation at outset?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.0 -
Yes, he is aware & advised me to get the signature from donor on 'Confirmation of gift' form. But he is not 100% sure if Nationwide drop the case on this ground. Appreciate sharing your experience & knowledge.0
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Latest development, text message received from Nationwide saying that ‘The valuation has been rescheduled to. There’s no need to be present unless we’ve arranged this with you.’
Does that mean they have done all the checking on my application & processed, now happy to move forwards with valuation?0 -
No. The valuation activity goes on in the background while the other things are sorted.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.0
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If lender doesn’t accept a gift deposit from a friend, do they decline the application straightaway or give you an option to find another source like selling your valuables to make the deposit?0
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Can't say I've ever been in the position to find out, sorry.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.0
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