We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage Declined Due to 'Loan"
Comments
-
From a neutral perspective looking in.......Halifax were right to do what they did. It is pretty clear that Uncle expects this money back.0
-
Thanks for all your input. The uncle does not expect the money back.
Anyway, we've had some movement. As some suggested, I went to my broker and asked him to explore some options of where we could go. 1 option was that they would 'consider' a review if we were to get a deposit from elsewhere, another proof of gift letter and also an explanation stating why we didn't go with that giftee in the first place.
Anyway, another member of my family have said they are willing to help. Proof of funds and both letters were provided to Halifax on Friday of last week. Yesterday afternoon they accepted the paperwork and said they will review our case. The papers are now back in front of the underwriters and they will reconsider.
Fingers crossed.0 -
Your uncle made an error/stipulation on transfer of funds. The bank didn't do anything wrong and further, well done to them for being open and giving you another option in order for you to complete.
Don't blame them - or even your uncle who was just trying to help because you had not adequately saved a deposit for yourself - Let's say it straight so you don't lose perspective.
That aside, I wish you well with the new decision.0 -
If you wait it out for 3 months then you will only have to supply the last three months banks statements and the mortgage company will therefore not see the offending transactionOveractively underachieving for almost half a century0
-
Yet the lender will still have record of the decline - and the reason for it.
The trick will be to evidence deposit from elsewhere, the route our poster is working on.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 -
Intrigued as to why the uncle would want to put "loan" down as the reference.........I smell some tax shenanigans on his part!0
-
Maybe it was an attempt to stop OP's partner from claiming the deposit share if the relationship falls apart in the future.:heartsmil When you find people who not only tolerate your quirks but celebrate them with glad cries of "Me too!" be sure to cherish them. Because these weirdos are your true family.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards