Another Gifted Deposit Question

Darksparkle

Hi all,

Just looking for a bit of advice.

Fiance and I were looking to buy a home with a joint mortgage. His mother offered to gift us the deposit (baby due so wanted to help us out).

Unfortunatly the joint mortgage was refused due to partner history but I should be able to get my own mortgage. I have a decision in principle from Halifax.

However will this be refused because the deposit is technically a gift from a non-relative (but future mother in law/child's grandparent?)

kingstreet

Halifax won't accept it as it's blood relatives only, unless it's from your live-in partner.

A family member is someone who is related to at least one of the applicants:

By birth/blood relative (for example an Aunt has to be via blood and not marriage).

By marriage or civil partnership (including step children, adopted children and in-laws).

Common law partners / co-habiting in current property.

Others might. You need to do so research.

Darksparkle

kingstreet wrote: »

Halifax won't accept it as it's blood relatives only, unless it's from your live-in partner.



Others might. You need to do so research.

Technically it would have been from her to my partner (for us) and now to me. I currently live with him and still will.

kingstreet

You could gift to him, but she can't.

If she'd gifted it to you six to twelve months ago, you might have been able to get away with it now as you could evidence it in your account long enough.

As I said, there are other lenders who will accept this without you having to find dubious ways of doing it and Halifax products aren't that great anyway...

Darksparkle

kingstreet wrote: »

You could gift to him, but she can't.

If she'd gifted it to you six to twelve months ago, you might have been able to get away with it now as you could evidence it in your account long enough.

As I said, there are other lenders who will accept this without you having to find dubious ways of doing it and Halifax products aren't that great anyway...

But it's me that needs it, not him? He can't get a mortgage.

Not trying to find dubious ways of doing anything, simply asking a question.

Financial adviser said Halifax are the only ones giving me the level of mortgage I'm looking for.

kingstreet

Interesting. Halifax hasn't been top on our affordability criteria for several months, with other lenders being more generous.

Still, I don't know your case and can only generalise.

What does your financial adviser plan to do then?

Darksparkle

kingstreet wrote: »

Interesting. Halifax hasn't been top on our affordability criteria for several months, with other lenders being more generous.

Still, I don't know your case and can only generalise.

What does your financial adviser plan to do then?

Still waiting to hear back from financial adviser. Was just looking for info here in the meantime.

Sadly, It wouldnt have been an issue if they'd allow a joint mortgage for the same amount.