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Conveyancing and 'gift' nightmare!
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Something to be aware of is that some lenders don't like repayment of a prior loan as source of deposit (so you leant family money and have been repaid) unless the repayment happened 3 months prior to application. I know nationwide take this stance (they are the only one I have come up against this with but it is possible they aren't the only one)I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
So I spoke with them today as per the above. I stressed the audit trail and 'flow' of funds and asked to speak to someone more senior after initial rejection from the Paralegal.
All sorted! They are now "satisfied that the monies are not a gift".
Thanks for all your help
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