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Deposit question - please help!
FTB_1991
Posts: 39
Forumite
Hi all
I have been waiting to exchange on a house since September (FTB). For my purchase, I had a gifted deposit of c.£6000 from my husband. However, since receiving the money from my husband in August, I have since been paid in September and October which means that I now have £6000 additional of my own. This means that the deposit of £43,500 is now wholly comprised of my own funds (I now have £50k in total in the bank).
If I send the solicitor proof of my September and October funds, will this now mean that:
1) I no longer have a gifted deposit at all; and
2) can I return the excess 6k back to my husband as I no longer need it.
Sorry if this is a “duh”
basic question. I just don’t want to do anything to jeopardise the position.
By way of additional facts:
- there is a delay in the chain which means it could be a few more months until we exchange.
- I have a mortgage offer from HSBC. As far as I know, the conditions only refer to the deposit at the time of exchange.
would really appreciate if someone has any guidance on this.
thank you so much in advance.
I have been waiting to exchange on a house since September (FTB). For my purchase, I had a gifted deposit of c.£6000 from my husband. However, since receiving the money from my husband in August, I have since been paid in September and October which means that I now have £6000 additional of my own. This means that the deposit of £43,500 is now wholly comprised of my own funds (I now have £50k in total in the bank).
If I send the solicitor proof of my September and October funds, will this now mean that:
1) I no longer have a gifted deposit at all; and
2) can I return the excess 6k back to my husband as I no longer need it.
Sorry if this is a “duh”
basic question. I just don’t want to do anything to jeopardise the position.
By way of additional facts:
- there is a delay in the chain which means it could be a few more months until we exchange.
- I have a mortgage offer from HSBC. As far as I know, the conditions only refer to the deposit at the time of exchange.
would really appreciate if someone has any guidance on this.
thank you so much in advance.
0
Comments
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It’s as simple as telling your solicitor/broker of your situation. They will update your file and uncheck gifted deposit1
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Thank you!0
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Does it actually make ANY difference?0
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