Want to pay mortgage off with gift from partners mother

curlywurly86

Hello everyone just looking for a wee bit of advice ☺️ my partner and I are buying a new build and it's basically ready, went for home demo today. We have a mortgage offer from Barclays that stipulates both my flat and my partner's house, which are both sold awaiting completion, are paid off on or before completing on our new build.

For various reasons, including my 1st buyer for my flat pulling out just before missives, my flat sale won't be complete until September. So in order to proceed with Barclays mortgage offer we decided to pay the flat mortgage off (54k) with savings and gift from partners mum.

I phoned to pay it off today and they were a bit weird on the phone, asking how it's being paid off and requesting bank statements?! Is this normal? It's just going to delay everything even more! What are they checking for? Surely I have the right to pay it off at any time subject to fees why do they care where the money is coming from? 🧐🙄

Will the fact some is from my partners mum be an issue? 

elsien

Money laundering checks, I would imagine. 

Nearlyold

elsien said:

Money laundering checks, I would imagine. 

As above, plus they probably want to be sure you haven't borrowed monies to pay off the existing mortgage(s) as this would affect affordability calculations.

diystarter7

No "issues" whatsoever!
All they need is an electronic trail to confirm
They may ask but I doubt it as the sum is not vast plus you will have assets and that is
that the money is indeed a gift. But as I said I doubt it as it is not a large sum.

curlywurly86

Thank you all, reassuring 😌