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Gifted Deposit - When do overseas monies stop being from overseas?
Snookie12cat
Posts: 805 Forumite
My mum is gifting me some money, however she got a pension payout from Australia last year, and while we do not need this money towards the deposit as she has more than enough savings from UK earnings in the savings account, this payment shows in her savings as the last transaction.
Will the solicitor just disregard this money, or will she include it and will it still be classed as overseas deposit even though the money has been in a UK bank account for just under a year?
Will the solicitor just disregard this money, or will she include it and will it still be classed as overseas deposit even though the money has been in a UK bank account for just under a year?
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I've read horror stories on this board about overseas money, but then in the real world people who've used overseas money said the solicitor was fine.
Having not yet been through the process I can't comment from personal experience, however given the documentation for the payout will be in English and from a reputable (pension) company i really can't see that being an issue no matter how recent it was.1 -
Thanks - my mother of course destroyed the paperwork for the pension and doesnt want to contact Australia to get it... suppose she is going to have to thoughCountrysider said:I've read horror stories on this board about overseas money, but then in the real world people who've used overseas money said the solicitor was fine.
Having not yet been through the process I can't comment from personal experience, however given the documentation for the payout will be in English and from a reputable (pension) company i really can't see that being an issue no matter how recent it was.
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It depends how far back the solicitors want to look for the source of funds, and there isn't a standard answer to that.1
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