Pension advice needed please!

dunstonh

barnstar2077 said:

Maybe things are different now, but when I took out my mortgage there were no questions about where my deposit came from, I put ten percent down and that was it.  Even if they did ask and you said savings it wouldn't be a lie, as once you gave her the money it would become part of her savings.  A bit of a mountain out of a mole hill imo.

You have to state where the deposit came from.  Sometimes giving evidence to back it up.   Both to the solicitor and the lender.   Committing fraud is an option but its probably not a good one as there is a mortgage fraud register that lenders can blacklist you to which is shared.

Requirements and checks today are far greater than they used to be.  I, like you, was never asked or checked but things move on.

barnstar2077

Crazy, especially as borrowing from the bank of mum and dad is hardly the same as taking out a normal loan.  Mum and dad are a lot less likely to demand payments if you lose your job and need a few months to get back on your feet etc.

Maybe it is just about cracking down on money laundering.

Wooly_Mammoth

Yeah I had good intentions of helping her temporarily til she finishes her masters. Her income will be greatly enhanced after then which is when she would begin paying me back. 

xylophone

Why not just draw the PCLS and make it a gift to your daughter?

Set up the remaining to draw out annually only as much as keeps you within the 20% band  and use that to pay off the debts?