Advice welcomed

edited 30 November -1 at 1:00AM in How much have you saved?
13 replies 1.5K views
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  • Guest101Guest101
    15.8K Posts
    ✭✭✭✭✭
    In the UK a gifted deposit will not work and still at a loss with your post tbh, as you say struggling or were struggling yet still say you have 20k plus 15k gifted so it does not read right here.

    Nonsense, a gifted deposit is absolutely fine for the vast majority of lenders.
  • Guest101 wrote: »
    Nonsense, a gifted deposit is absolutely fine for the vast majority of lenders.



    What is this follow me around and dispute all my posts ???
  • Hi,
    My reading (and to me it seems pretty clear) is that you have been given an amount of money, which, when added to your other savings, totals 20000 euros.

    If it were me, I would convert it to the currency you intend to buy the house in, amalgamate it with your other savings, and put it in an instant access ISA if you want quick access, or a longer term one if you are willing to wait. As long as you can demonstrate that it was a gift (for money laundering regulations) when you deposit the cash, you'll have no problems at all when it comes to using it for a deposit.

    Also, well done for getting together savings when you say you were struggling - do save when money is tight is admirable.

    Good luck!

    Sbs
    Maximise income, minimise outgoings = success!
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