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Money gift from overseas family
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Janine9584
Posts: 2 Newbie
Hello
If my family decides to send me money from overseas as a form of gift for a deposite for a house, would mortgage lenders want to know the source of the funds?
If the source of funds is a portion of a personal loan taken by a family member would this be a cause of concern?
If my family decides to send me money from overseas as a form of gift for a deposite for a house, would mortgage lenders want to know the source of the funds?
If the source of funds is a portion of a personal loan taken by a family member would this be a cause of concern?
0
Comments
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Yes. Many lenders won't accept a gift from overseas and those who do have extended evidence requirements such as donor ID and bank statements.
No. Relatives can borrow money to provide a gift.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.2
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