We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Gifted money and TOE
tea_lover
Posts: 8,261 Forumite
Another question.... TIA 
I currently have a joint mortgage with my soon to be ex partner.
House value approx. £200k. Current mortgage £110k.
I have £20k in savings which I will be using to pay OH (amount agreed by us both, reflects the £50k deposit I put in).
I will be getting some money via my parents (inheritance from grandfather). We haven't decided on the final amount but it will be somewhere between £30k and £50k.
I will therefore need to borrow £60 - £80k in my own name. This shouldn't be a problem based on my income, outgoings, etc.
I have all the payslips, bank statements etc. Just wondered the best way to go about transferring the money from my parents - should I get it in my account now, so it's showing on bank statements? Or do I leave it with them for now and get a letter saying it's a gift? Or something else entirely?
I currently have a joint mortgage with my soon to be ex partner.
House value approx. £200k. Current mortgage £110k.
I have £20k in savings which I will be using to pay OH (amount agreed by us both, reflects the £50k deposit I put in).
I will be getting some money via my parents (inheritance from grandfather). We haven't decided on the final amount but it will be somewhere between £30k and £50k.
I will therefore need to borrow £60 - £80k in my own name. This shouldn't be a problem based on my income, outgoings, etc.
I have all the payslips, bank statements etc. Just wondered the best way to go about transferring the money from my parents - should I get it in my account now, so it's showing on bank statements? Or do I leave it with them for now and get a letter saying it's a gift? Or something else entirely?
0
Comments
-
Leave it with them and prepare a gift letter when the time is right.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 -
Thank you love it when an answer is that clear! 0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards