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parents to pay estate agents fee
nickyg2000
Posts: 344 Forumite
We are a little tight on mortgage borrowing and rather than get a gifted deposit which requires declarations etc could my parents just pay my estate agents cost and conveyancing costs?
Will a lender allow that??
Will a lender allow that??
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Comments
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How much are the fees, assuming you are buying and selling?0
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It's not a gift then? Is that why you want to avoid doing the letter?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Depeds on the lender. I think most owuld be ok with it, but just check. It should not be a major issue in either instance unless credit score is very tight.I am a Mortgage AdviserYou 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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So can I avoid a gifted deposit? as its not a deposit?0
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So lender will lend up to £227,000. We have a formal mortgage offer for £198,000 from a property that fell through from a lender which flew through the process. Want an extra £10k plus want £5k to have a bit of leg room. So borrow £208,000 and get my dad to pay the agents fees.0
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Call the lender and ask the question - take the name of the person you spoke to as a reference.I am a Mortgage AdviserYou 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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