Sole mortgage but gifted deposit from common law

Meechmouse

Thanks for the replys just an update. Halifax are not happy to proceed. They havent withdrawn the offer tho at the moment . They said that it doesn't meet their gifted deposit criterial so by the sound of things I would need a gifted deposit letter and there would be no deed of trust. :-/

getmore4less

Buy the place jointly

Those in the know seem to think it should not be a problem in their posts.

Meechmouse

My mortgage broker seems to think we would struggle to get one really not sure what to do just heard that the mortgage may have been withdrawn (not actually been confirmed as yet by Halifax) does anyone know if I did provide a gift letter would they reinstate it if they are satisfied that it is a gift deposit? Or would it be a new application? Thanks

Thrugelmir

Non related parties are normally not acceptable.

The problem you face is that you've tried to circumnavigate the broader rules. Halifax may be taking a view that (a) what else isn't being disclosed. (b) on commercial grounds it's not worth their bother.

Financial transactions require trust and transparency. Without these there's no basis for a relationship.

Meechmouse

Yes very true I didn't realise any of this tho I though that were weren't doing anything out of the ordinary untill Friday. On Halifax intermediaries for gifted deposit common law partner is on the list. i don't understand why the solicitor didn't advise me what might happen. Hopefully know more tomorrow. Looks like another sleepless night :-/

Mojisola

Meechmouse wrote: »

common law partner

Halifax should know better than to use this term. There's no such thing as 'common law partner' - either you're married (or civil partners) or two separate individuals.

Meechmouse

This is from their website


by birth/blood relative
by marriage or civil partnership (including step children, adopted children and in-laws)
as 'Common Law' partners or co-habitees.

Mojisola

Meechmouse wrote: »

as 'Common Law' partners or co-habitees.

I wonder what their definition of "Common Law" partners is?

How is it different from "co-habitees"?

Meechmouse

Just got off the phone to Halifax and been informed that the mortgage is at pre offer now so it dosent look like it's been withdrawn as yet