Gift donation

okigen

Hi all, I have a noob question please. A few months ago my mother transferred some money into my account to chime in my deposit in the future. No problems with the transfer at both banks (she lives abroad). The amount has been sitting on my bank account.

We should have all paperwork if required but a thought crossed my mind today: maybe she should have written something BEFORE the transfer to clearly state it is a gift?

Or am I worrying too much and we can write that letter later when I've found a place and started the buying process?

MovingForwards

It doesn't have to be done before transferring to you, the lender will have their own forms and ID requirements which the solicitors will ask for from your mom when needed.

The_Real_Cheddar_Bob

Depends how many months we are talking about. You may not get asked if its sat in your account for 6 months, but then again, they might ask to prove how you got said money

okigen

MovingForwards said:

It doesn't have to be done before transferring to you, the lender will have their own forms and ID requirements which the solicitors will ask for from your mom when needed.

Ah super, thank you!