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child gifting to parents for deposit!

luberluber · 2016-09-28 10:38:50

Hi all Bit of a funny one I know - what is the scope for an adult child gifting funds to their parents for the deposit on a mortgage purchase? Other way round to usual I know! Are lenders ok with this? I should point out this is for a commercial mortgage to buy a business (rather than a residential purchase or BTL). Also I…

Comments

Thrugelmir Posts: 89,546 Forumite

29 September 2016 at 8:51AM

AnotherJoe wrote: »

Marthas indemnity insurance would not be activated in that circumstance since Terry was not insolvent.

What indemnity insurance. The cover would most certainly be void in any case. As there would be non disclosure of material facts at the outset when applying for the cover.

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