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First Time Buyer - Large Deposit
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Thrugelmir wrote: »The issue is that your word alone is not sufficient. While it may appear to be your money. It can still be reclaimed by creditors under the Insolvency Act 1985, or seized under Money Laundering regulations for example. The lender being powerless in such situations to stop due process.
Sure, I understand that I need to prove where the funds have come from and a letter from my mother and/or solicitor confirming that it has been gifted for use as a house deposit can easily be provided.
Which creditors are your referring to when you say it can be reclaimed by creditors under the Insolvency Act?0
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