Gifted Deposit

Sally1991

Hi,

I’m a first time buyer so forgive me for my naivety! My partner and I are in the process of buying our first property with the help of his Mum gifting us £25,000.

Now when it comes to ‘almost’ exchanging, where does the deposit money need to come from, our account or can it come from hers?

Many thanks.

davidmcn

Doesn't matter. The solicitors will want to track it back to where it originally came from anyway.

Sally1991

Thanks for replying, we have already sent the signed paperwork to the solicitors stating she is gifting us and the mortgage adviser is confident that’s all we need.

So would it matter what account the money is transfered from?

Thanks, S

davidmcn

Sally1991 wrote: »

So would it matter what account the money is transfered from?

Like I said, it doesn't matter.

Tink_x

I think it has to come from your account.
We had gifted money from my partners step father and our solicitor needed to see a statement of it being transferred from his account into ours.

But as above poster says, it doesn’t matter. So. Not sure haha just email solicitor and ask