Gifted Deposit From Abroad

Billy123123

Hello,

First time post.

My wife and I are looking at buying a shared ownership property, please we don't want those replies where people say SO is a scam etc, can we have constructive/ on topic answers only.

Anyway we have £5k deposit our selves. My mother in law who lives in the Czech Republic has recently sold her property and will be giving us £10k from the sale for our deposit.

We have looked into it and we have seen that a lot of lenders don't like deposits from non UK residents and have found we may have difficulty in obtaining a mortgage with this deposit... Is there anything we can do, or are there lenders who will accept our deposit and what proofs will they require as to where it came from etc?

Further to this I have a satisfied default on my credit file with Experian from 2011 for £406 from OUSBA. However this is not on my Equifax report...

Billy123123

Anyone? Please?

minimike2

You need to engage a mortgage broker is the simple answer.

amnblog

Yes, some lenders are tricky about this.

The best lender for you depends on numerous factors besides source of deposit.

Thrugelmir

Billy123123 wrote: »

My mother in law who lives in the Czech Republic has recently sold her property and will be giving us £10k from the sale for our deposit.

Then should be easy to provide documentary evidence to evidence the source of the deposit.

please we don't want those replies where people say SO is a scam etc

Fact of life that putting money into property is a way of legitimising it or transferring from one jurisdiction to another for other reasons.

Billy123123

They might be tricky, but trick isn't impossible?