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Ftb advice
Comments
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Hi NIB
Both lenders and brokers are legally bound to gather proof to identify the original source of deposit funds. Easy if it has been in your deposit account for some time. if it is in your mother in law's account it could be her funds which she is lending to you.
The simple route is to have your MIL ready to provide a gift letter covering the funds - this needs to be in specific format.
Otherwise you may be asked to prove that you have given her money over a number of years to save for you.
Any broker worth his/her salt will easily guide you through the process.
Shame you have to use up your Saturday with a boring broker though!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
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