Gifted deposit and Nationwide

LuckyG

I've recently applied to Nationwide via a broker as a sole applicant. My husband has not jointly applied after advice from my broker (due to his age). We are putting 40k deposit down (28%), however 35k has been gifted to me from my husband after he received inheritance. The remaining 5k I've saved over the past year through an ISA and personal savings (also with Nationwide). I've provided proof of everything to my solicitor.

My basic wage is 22k a year, with enhancements it's 26k and will go up in increments yearly. I passed the DIP and have requested to lend 5k less than they were willing at this stage.

Last week my broker asked me to complete Nationwide's gifted deposit form and she uploaded it straight away. I'm awaiting it to be reviewed.

Do you think this will be an issue

Trickzyy

Hi Lucky,

I personally went through a home purchase recently using Nationwide, and part of the deposit came from a close family member who would also be living in the property. After completing the gifted deposit form, the family member was required to seek independent legal advice explaining the potential consequences as they were going to be living in the property, had supplied part of the deposit, but had no legal interest.

After seeking advice and forwarding confirmation to the solicitor, this caused no further issues.

I hope this helps you as guidance, but the best thing to do would be to call your broker and ask him/her.

LuckyG

Thanks, my broker has just contacted me and they haven't queried the gifted deposit as of yet.
The form was scanned over on the 17th and they're currently processing documents received on the 19th so I'm hoping it's all ok.
Instead they're saying my marriage certificate is outstanding. Broker has told them she scanned it to them on 11th and they can now see that they have it.

Says they will action the marriage certificate then issue an offer by the end of the week.

We'll see