Mortgage: Giving money to my husband for buying house but bank want me to write...

Nicole_Patel

I am currently living abroad but I plan to move back to the UK. I am gifting my husband funds for a flat however when he applied to Santander they requested that I write that I do not intend to live there.
Yet I am moving back in a couple of months and am intending to live with my husband. I don't understand why the bank is requesting this. Is there any way to get round this or is it reasonable for them to ask this of me?

csgohan4

If you are going to live back there soon, you have an interest in the property no? Even more so since your 'gifting' the money, hence it's not really a gift since you have a vested interest in the property.

kingstreet

Santander does not accept someone contributing to the deposit who will reside in the property who isn't party to the mortgage/ownership.

Find another lender, or have a broker do it for you.

If you are not careful, this will fall apart just at the point you are about to exchange contracts.

TBeckett100

Why are you not being party to this mortgage or wait until you get back. You need to protect yourself financially too

ACG

You/your husband have applied to the wrong lender for what you want.

Your gift is not a gift. If you give your nephew £10 for his birthday, you do not say theres £10 but you have to get something for both of us. Its usually theres £10 go and get yourself something... Thats the best way I could think to explain it.

PasturesNew

It's not a gift. You are married and you will be moving into the house. It is therefore part of the deposit.

Why do you think it is a gift? What are you trying to achieve/do? If people understand why you think it is a gift, and what you are trying to do, then they might be able to select the correct words you should use.

maninthestreet

If I was in your position I would be asking serious questions as to why your husband wants you to gift him some money to buy a house he will own but you won't.