Help please - Seeking Advice: Gift Amount Rejection by Nationwide Lender

Lets_fly

elsien said:

Lets_fly said:

user1977 said:

What is your broker saying about it?

This is the response from Broker 

'I have chased the lender and they have come back saying that they can still not accept the deposit amount  im afraid.

 

I have been exhausting going back and forth with the lender 

Please do let me know how you would like to proceed or any alternative proposal you have.'

Has the broker not clarified the reason with them?

He is trying to get speifics of what transactions are contagious in the  bank statement provided. Bank has just mentioned some transactions are cash deposits and overseas company payout. 

Lets_fly

TrickyDicky101 said:

Lets_fly said:

What makes this situation particularly confusing is that just two months ago, the same lender had accepted the gifted amount when I applied for a mortgage for a different property. In fact, the mortgage was approved, and the offer is still valid until April 16th, 2024.

Isn't this likely to cause a problem in that Nationwide already has an offer on the table for you and you've gone back to them (via the broker) for an additional offer (affordability issue)?  I could be wrong but maybe one of the brokers would like to comment here...

Its same mortgage broker I am using . They are rejecting just the gift amount and asking for alternative funding 

Hoenir

Lets_fly said:

elsien said:

Lets_fly said:

user1977 said:

What is your broker saying about it?

This is the response from Broker 

'I have chased the lender and they have come back saying that they can still not accept the deposit amount  im afraid.

 

I have been exhausting going back and forth with the lender 

Please do let me know how you would like to proceed or any alternative proposal you have.'

Has the broker not clarified the reason with them?

Bank has just mentioned some transactions are cash deposits and overseas company payout. 

You can presumably provide documentary evidence as to the source of the money deposited?  

ACG

Were the foreign transactions on the previous statement provided or to the same degree? 

amnblog

The Lender is legally bound to take steps to identify where all the funds for the purchase come from. That makes cash into an account a problem - it may be the issue, or part of it here.