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Deposit source
J123321
Posts: 19 Forumite
Hi All,
I am going through the mortgage process on my first house.
I stated to the lender that I will be gifted a deposit top up of £4000 form my parents
My parents have borrowed it from a family friend without me knowing and simply transferred the money into my bank.
The lender states that the gifted deposit must be from a close family member.
Will the lender have a problem with the source as it is not actually from my parents savings etc
I just presumed they had go the money until I questioned it.
They solicitors are asking to prove the source of the money (money laundering laws)
Thanks
I am going through the mortgage process on my first house.
I stated to the lender that I will be gifted a deposit top up of £4000 form my parents
My parents have borrowed it from a family friend without me knowing and simply transferred the money into my bank.
The lender states that the gifted deposit must be from a close family member.
Will the lender have a problem with the source as it is not actually from my parents savings etc
I just presumed they had go the money until I questioned it.
They solicitors are asking to prove the source of the money (money laundering laws)
Thanks
0
Comments
-
Did you post this same question yesterday?0
-
Yes - similar but I think their was some confusion to what I was asking & the source of the loan that my parents got.0
-
The answer remains the same.
It's nothing to do with where the money comes from. (well almost!!)
Its the immediate transaction before you. Is this a gift? Is the source legitimate? - the answer to both is yes.0
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