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Gifted deposit
cngreen
Posts: 19 Forumite
Hi
My sister is gifting me the deposit for my new house, long story but essentially i paid off debt for my mum a few years ago which my mum has written into her will and my sister has agreed to give me the money and then when my mum dies that's how she gets it back.
However, she is concerned that this gift will adversely affect her mortgage application as she plans to buy a newer property in a few months time. My question is, will it?
Claire
My sister is gifting me the deposit for my new house, long story but essentially i paid off debt for my mum a few years ago which my mum has written into her will and my sister has agreed to give me the money and then when my mum dies that's how she gets it back.
However, she is concerned that this gift will adversely affect her mortgage application as she plans to buy a newer property in a few months time. My question is, will it?
Claire
0
Comments
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Nope. No impact or ill-effects of any kind from gifting money to you.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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Just in case your sister needs a 'second opinion'. As KS says, this will not impact her ability to obtain mortgage lending at a later date.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 -
However, she is concerned that this gift will adversely affect her mortgage application as she plans to buy a newer property in a few months time. My question is, will it?
Depends on how she is proposing to raise the money to help you. From the question you ask. Suggests that part at least will be borrowed.0
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