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Deposit - gifted?
greendiff
Posts: 1 Newbie
I am researching buying my first home.
back when i was a young child, my grandfather gifted me a large sum of money. this is my deposit.
it is in my name, has been for probably 25-30 years, would i have to declare this as a gifted deposit, or not?
mortage would be around 35% of house value if that makes a difference.
payment roughly 10% of monthly wage
back when i was a young child, my grandfather gifted me a large sum of money. this is my deposit.
it is in my name, has been for probably 25-30 years, would i have to declare this as a gifted deposit, or not?
mortage would be around 35% of house value if that makes a difference.
payment roughly 10% of monthly wage
0
Comments
-
That money is just your savings now.
Put it down as savingsI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, 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
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