Gifted Deposit no longer required

~shoozy~

Hello all,

I originally applied for my mortgage through Nationwide, but when the Help To Buy was rejected I had to switch lenders, and increase my deposit from 5% to 10%.
In order to get the application submitted and show proof of deposit, a family member offered to gift me money towards the deposit. Bank statements and the gifted deposit letter was done and sent over.
I now no longer need the gifted deposit as I have it saved myself as I was waiting for an invoice to be paid to make up the shortfall.
Application has been approved by the underwriter subject to valuation which should be getting done very soon.

Do I still need to show the money being transferred over to me or are all the checks likely to have been done by now?

butterflybook

This shouldn't effect your application, your solicitor will want proof of where the deposit funds have come from to comply with anti money laundering regs and so just make sure that you have that.

~shoozy~

Thanks butterflybook - it's all the unknown, I'm just second guessing everything now!

butterflybook

Try not to worry - have you used a broker? Once the valuation is complete assuming that is ok then you will receive a mortgage offer from the lender which is the final yes to the mortgage then its up to the solicitor to do the legal work