Gifted deposit from partner

emilL

Hi everyone,

I am in the process of buying a property and need some help to know if my partner gifting money to my parents to then gift to me will be flagged in an AML check by my solicitor?

To give some context: My deposit is made up of personal savings and 3 gifted deposits: Two being my parents and one being my partner. Myself and my partner are not married or in a civil partnership but we live together.

When preparing my mortgage application my broker recommended that the money not come from my partner directly and instead for this money to be gifted to my parent's account so that the gifted deposit could come exclusively through my parents. The lender wouldn't agree to a gifted deposit from my parter. I agreed this would be possible at the time without reading into the details. After being in receipt of an accepted offer from the lender and prior to / reading into the solicitor's AML checks I am concerned that this approach might not be as feasible as the broker made out. My concern being that my parents will still need to evidence these funds being gifted from my partner and I am not sure what the implications will be. Will this still be shown to the lender that the money is from my partner?

If anyone can point me in the right direction I will be truly grateful, thank you!

Emil

ACG

The checks being carried out are there to prevent exactly what you are doing.
You are committing mortgage fraud and roping your nearest and dearest into it.

If this gets found out there will be paperwork (bank statements and signed gifted deposit letters) to evidence you and your parents lied. You could find you struggle to get a mortgage for many years to come.

If you want pointing in the right direction I would say cancel your application and apply properly to a lender who will accept a gift from a partner and find a proper broker.

davidmcn

I agree it seems a spectacularly stupid bit of advice from the broker, and would leave you high and dry once you get to the (possibly late) stage at which your solicitor checks the source of funds.

Thrugelmir

Switch mortgage broker before you do something you later regret. Unfortunately you seem to have found one of the minority.

foxy-stoat

Any reason why your cannot buy together, tenants in common with unequal shares and a trust deed?

kingstreet

emilL wrote: »

my broker recommended that the money not come from my partner directly and instead for this money to be gifted to my parent's account so that the gifted deposit could come exclusively through my parents. The lender wouldn't agree to a gifted deposit from my parter.

If this broker is willing to coerce you into committing fraud for yourself; what do you think he might be prepared to do to you for himself?