Gifted money from China to put toward deposit

ethranes

Hi,

My father in law in China wants to gift us money to put toward a deposit for purchasing a property in Scotland. I've spoken to 2 solicitors who are unwilling to aid because the money is coming from China. 

Can anyone tell me what the reason for this is, I've checked online and there isn't any issue with being gifted money from China, and also that the gifting is tax free (as long as the gifter doesn't die within 7 years). Or if anyone knows of any solicitors that are able to aid us in cases where there are funds being transferred into the UK from China?

Thanks!

born_again

Issue will be source of funds. Can F-I-L provide full details of that?

ethranes

Yeah there wouldn't be any issue with the source of funds. We actually did the same for our first property and we had to supply both ours and his past bank statements and it was no issue, that was back in 2018. But it's 3 solicitors that have refused me at this point, they just seem to be a lot more squeamish about it this time around. I think they just don't want the hassle of all the legwork of proving the source of funds. 

Newbie_John

I wonder if there's something else on the table.. reading your first post it sounds like F-I-L is gifting you £10k for mortgage for your first property. But with the second post it looks like you're buying another one. How big deposits we're talking about?
Have you tried using the same solicitor as first time? What reason do they give you? Are you getting a mortgage or buying in cash?

user1977

ethranes said:

I think they just don't want the hassle of all the legwork of proving the source of funds. 

This is it. China is seen as high risk, so it's too much hassle and risk for the value of the work. You'll just need to shop around until you find someone more willing to get involved - don't friends etc have recommendations of solicitors they've used for similar circumstances?

kingstreet

I've used Loynton & Co in Birmingham for Chinese gifts, but have no idea if they deal in Scottish transactions.

user1977

kingstreet said:

I've used Loynton & Co in Birmingham for Chinese gifts, but have no idea if they deal in Scottish transactions.

They won't, any dual-qualified solicitors working on the "wrong" side of the border are unlikely to be doing residential conveyancing.

ethranes

Hi. Just to close this one off. We did find a solicitor in Edinburgh willing to help. 4th time lucky. Turcan Connell, if anyone finds this topic in the future.