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Gift for stamp duty
Snookie12cat
Posts: 805 Forumite
If I get a gift from my parents for the Stamp Duty for my new purchase, will the lender need to be informed?
I have all the money for the loan, but not the stamp duty in the short term, so my mum will be giving it to me.
I have all the money for the loan, but not the stamp duty in the short term, so my mum will be giving it to me.
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Comments
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Your solicitor will need all required funds in their account before completion - including the SDLT payment.As it will be going through their account it will have to pass the same anti money laundering checks as all of the rest of your money, I presume that the lender will also have to be made aware.2
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Thanks - I wanted to avoid the whole gifted deposit route with the lender. I might give them a call and see what is needed.Slithery said:Your solicitor will need all required funds in their account before completion - including the SDLT payment.As it will be going through their account it will have to pass the same anti money laundering checks as all of the rest of your money, I presume that the lender will also have to be made aware.0 -
Not under standard solicitor instructions - they're only required to check the price is coming from the borrower's funds, the fees etc don't necessarily need to. The lender might ask in their mortgage application though.Slithery said:Your solicitor will need all required funds in their account before completion - including the SDLT payment.As it will be going through their account it will have to pass the same anti money laundering checks as all of the rest of your money, I presume that the lender will also have to be made aware.1
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