Remortgage a gifted property

Debcash

Hi there, just looking for some help quickly.

My partner is being gifted a house from her family and we were looking at getting a mortgage pretty quickly after it's been signed over. Can we jump straight into one or do we have to wait 6 months? Bit confused really!

We don't own a property or have a mortgage ourselves

Cheers

butterflybook

Usually you would need to wait for 6 months, however it depends what the reason would be for raising the funds as some lenders are discretionary on this

badmemory

And a mortgage would be a good idea because.....? And when the donor finds out that a mortgage has been taken out on it there could well be no more freebies coming her/your way!

foxy-stoat

Probably to pay back the "gift" maybe.

Seriously, why do you need a mortgage pretty quickly after being given a house?