Gifted deposits and private agreements

Thrugelmir

Jo*_2 said:

MWT said:

Jo*_2 said:

Hi - absolutely not. My question though is if that other agreement is an agreement that has to be legally adhered to?

It is possible to draft something that would be legally binding, and could avoid the potential for fraud, but given that no professionals have been involved I'd be surprised if that had been achieved

Not really much any of us can say though as the answer depends entirely upon how it has been drafted.

He just drafted this second agreement himself. No legal entities involved, nor any witnesses. Would this still be legally binding?

Would be expected that a party should have had independent legal advice to fully comprehend what they are ageeing too. Easist counter claim to make otherwise is one of being bullied/coerced into signing against ones will. As the donor happily gifted the money at the time of the mortgage application. 

[Deleted User]

Why not just use a lender that allows the repayment terms to be set out that both meet lenders criteria and both parties requirements? 

Speak to so many people who want to know how to get round the system without actually checking if it can be done legitimately first 

MWT

Deleted_User said:

Why not just use a lender that allows the repayment terms to be set out that both meet lenders criteria and both parties requirements? 

Speak to so many people who want to know how to get round the system without actually checking if it can be done legitimately first 

If the house purchase hasn't already gone ahead then I agree 100%, the money clearly isn't a gift, so best to deal with that up front.

In this case though I got the impression, perhaps wrongly, that it was a bit late for that...