Letter to mortgage provider to explain my deposit

woodenhead456

Hi everyone,
Just new to this site and I'm after a little bit of advice please.

I have received money from an ex partner as she has decided to buy me out of the property we had together. As the house is still in her name, technically it's not a sale so therefore the mortgage provider has asked for a letter to state that the money she gave me will be mine and she will have no interest in it.
Does anyone have an example letter for this I could use?

I tried searching and found sample letters for when it is being given as a gift to use as deposit but not from a sale. I could try and edit one of them to suit but wondered if there was anything I needed to include?

Many thanks for your help

stator

Well it needs to be from her, not you. Just her name and address, the date.
Then a simple sentance or two stating that the money transferred was not a loan and no repayment or other compensation will be sought in return and no interest will be retained in the property

Dave_Ham

Feel free to send your email address by private message and I will email template form Monday morning.

Be aware in advance not every lender will like the giftor in this scenario.

woodenhead456

Hi,
Thanks for the replies.
Although I'm looking for information it will be from her.
She just asked me to send over what they wanted and she would send it back signed.
It was through the mortgage provider that asked for this and said it wouldn't be a problem as I had a good enough case for their insurers but they wanted this just to help make it watertight.

#2 was my thoughts so I will send that through and let her sort it out.

Thanks alot

antrobus

woodenhead456 wrote: »

...I have received money from an ex partner as she has decided to buy me out of the property we had together. .....

Don't you have any documentation that relates to this deal? Didn't you have to sign something to show that you had relinquished all claims against property x in return for £y?

Thrugelmir

How can she buy you out of something you've never owned?

That's the problem. Can I ask if the sum is sizable? How has it been arrived at?

amnblog

I am not sure exactly what you are explaining but it sounds to me like you are being bought out of a property you part own by your ex partner. This means your ex is giving you cash in lieu of your share?

Presumably, there will be transfer of equity via a solicitor on your original property.

That is not a gift as it is your money anyway.

Thrugelmir

amnblog wrote: »

I am not sure exactly what you are explaining but it sounds to me like you are being bought out of a property you part own by your ex partner. This means your ex is giving you cash in lieu of your share?

In the OP's opening post.

As the house is still in her name, technically it's not a sale