Source of deposit - buying after separation

Logicalsquirrel

I have tried searching for a similar situation to mine and looking for any advice or answers that may help.

I have just separated from partner of 10 years. We rented a place together and since we have split, its my intention to buy a property. I have around £10k saved up myself over the past few years. But since the split I have moved out and ex is remaining in the flat with all the furniture, appliances etc as it was while we lived together. The agreement is that she will reimburse me for my half off the stuff and we have agreed on £3k.

I intend to use this towards my deposit and have been reading that they like to know where the funds have come from. Seems to be a common thing for a family member to gift money but this is a little more complicated in that its a payment, settlement sort of thing. I am a little nervous of her paying it into my account until I have clarified what proof and how to declare it when they start going through the bank statements.

Anyone else been here or know what happens?

I have read about gifted payments and the lawyers wanting to see statements of the bank account the money came from - in my situation that is going to be a hard task!

Any advice, thanks in advance.

saajan_12

Logicalsquirrel wrote: »

The agreement is that she will reimburse me for my half off the stuff and we have agreed on £3k.
..
I am a little nervous of her paying it into my account until I have clarified what proof and how to declare it when they start going through the bank statements.

That doesn't mean you don't ask her to pay the money! Worst case, they don't accept that as funds for the deposit (not likely) and you have to find another £3k, are you just going to not get this money from the ex?

Just ask ex to write / sign a receipt saying that the money is a payment for furniture and not expected to be returned.

Logicalsquirrel

Think I maybe wasn't clear, I will definitely be taking the money lol

We still have our joint account open which she has told me she's put the money into, for me to withdraw it from there and into my savings. I guess there is no getting round the fact that they may ask to see her accounts

She's started a letter or sorts saying that the money is due to us separating and that she is keeping furniture etc

I guess i may need to speak with a solicitor as it is ultimately them who need to be happy with the source.

davidmcn

I would get the money transferred sooner rather than later - there isn't going to be any "better" way of doing it than a direct bank transfer. The solicitors may only need to look back, say, three months, so by the time they do that the transfer may be irrelevant.