Bigger mortgage or bridge?

redman1989

In a similar situation myself with my wife..

Our house sale feels like it could fall through or be dragged out longer than needed which is causing the owner of the house we want to start putting pressure on us..

My mum is offering to gift us the Deposit & Stamp duty (will pay back upon sale obviously) but our hurdle will be speaking to the lender and asking them if they are still willing to lend even though our affordability will £500 a month more for 2-3 months..

muhandis

Sorry for going off-topic, but strictly speaking, isn't that a loan rather than a gift?

redman1989 wrote: »

My mum is offering to gift us the Deposit & Stamp duty (will pay back upon sale obviously)

redman1989

Yes but by declaring it as a loan again opens another can of worms by declaring it as a gift it shouldn't affect anything, might be bad taste or unethicle but as i'll be telling them i'll be paying my mortgage for a few more months at worst case don't want to tell them i'm also lending money of my mum.

She gifts me the deposit then i just happen to gift her it back in a few months time, who's to know haha, i'm sure many many people have done it.