Gifted Deposit Help

spud73

I’m hoping there’s someone on here who can give me a bit of advice about a complex problem. 

My mum is gifting me a deposit to enable me to get on the property ladder. She has filled in all the relevant forms and it has gone through my solicitor. It was delayed by covid but the house is complete now and the mortgage offer has come through. 

However a week ago my mum was admitted to hospital with a severe infection and at present as a result is not able to transfer the money or consent to someone else doing this final part. So doesn’t have capacity temporarily. 

I am a wheelchair user and it is so hard to find suitable properties and having exhausted all other avenues to move (am currently in a small rental which we have outgrown). I do not want to lose this house as there aren’t any other options, and my mum wouldn’t want me to either. 

We are told that in a few weeks she will recover and be able to go home after rehabilitation so the question is what do I do know and in the event of her not recovering enough to consent. I’m trying to be prepared for every eventuality so would really appreciate any advice before I contact my solicitor. 

simon_or

Unfortunate set of events, hope your mum gets better soon.

If she isn't able to transfer the deposit to you (which I would imagine is needed for exchange to happen?) then I can't think of anything other than delaying exchange until your mum is in a position to make the transfer. Given the circumstances and the fact that you expect mum to get better in a few weeks, surely the vendor will understand.

spud73

Thanks for the kind reply @simon_or

That sounds more positive. If it comes to the point where she has capacity again, is it ok for myself and my sister to help her to make the transfer if she can’t do it simply due to being in hospital? 

The house is with a housing association so I’m hoping under the circumstances they will be prepared to wait until she is better. I’m sure it will take longer for them to start again with someone else…

I have things in boxes, have got rid of things I’ll have to replace and have paid a lot towards fees etc already that I can’t really afford to lose. 

I don’t want to even be thinking about all this when my mum has been so ill but such is life!!

simon_or

As long as she gives her permission, I'm sure it's fine to help her in making the transfer from hospital, probably easiest using mobile banking.

spud73

Thanks for that info- I will hopefully just need to put this back for a few weeks rather than withdraw from the purchase at this incredibly late stage!!