Gifted Deposit enquiry

wpearson92

Hi all,
just a quick question in regards to a gifted deposit. I am going through a mortgage application with precise mortgages.

I have been contacted by my broker and I need to get a deposit gift letter signed. The gift is from my Sister and her partner. Now heres where I have a query, the gift has come from her partners bank account.

They have been a couple for 10 years and have a daughter and live in the same address, but they are not married. The broker as told me this shouldnt be an issue as long as i get both of my sister and her partner to sign a letter etc...

Could anyone offer any information on scenarios like this, i just dont want it hitting a snag along the lines.

wpearson92

Have I posted this in the wrong thread should it go to the house buying, or am right in using the mortgage forum

Malmo

Has your broker queried this with the lender in advance of the application and made sure it's OK? Criteria varies by lender.

Let_Us_See

Unfortunately, your broker should have questioned the source of deposit prior to submitting the application. Joint signatures might work.......but I would phone lender now and check.

amnblog

Bit baffled why a case has gone in with the POD?

wpearson92

Sorry, I know the broker did query it and he said it should be fine. I just wanted to know whether or not people had been knocked back due to this happening in the past

gibs83

From my experience it hasn't been an issue. We were gifted deposit from partner's mother. Cash from her safe which hasn't been in a bank for a long time so no bank transfer to show transaction from one account to another.

She signed a letter to say it was gifted and solicitor asked for proof of funds sitting in partners account. No ones asked anything more. This was a month ago so recently done.

I wouldn't worry about it.