Gifted deposit question

Bobbityboo

My parents are kindly gifting us money toward our deposit.  Gifted deposit form is signed and returned, proof of where the funds came from provided.  My issue is my parents are going to be out of the country soon for a while.  Will the lender or conveyancer need to speak to them at all?  The form asks for their phone number.  Just worried that my parents won’t be contactable! Don’t want to cause delays.  Thanks in advance 

user1977

Shouldn't be any particular need to speak to them, but are you sure you have all the evidence the solicitor needs?

Bobbityboo

user1977 said:

Shouldn't be any particular need to speak to them, but are you sure you have all the evidence the solicitor needs?

Thnaks.  I think so.  But will double check before they leave!  

Mark_d

If your parents are needed then you should have a way of contacting them.  If they lose their mobile phones, you could try calling the hotel they're staying at and leave a message for them to return your call?
You are the ones buying the property so if someone is having difficultly contacting your parents then they should come to you for direction.

Albermarle

Just worried that my parents won’t be contactable! 

If one of them has a mobile phone and a contract that allows roaming, then they should be easily contactable. In fact it is all too easy nowadays to contact anyone at any time !

Brie

See about contacting them via messaging - there is a phone option on there so they wouldn't necessarily need their mobiles to be working.  

Bobbityboo

Mark_d said:

If your parents are needed then you should have a way of contacting them.  If they lose their mobile phones, you could try calling the hotel they're staying at and leave a message for them to return your call?
You are the ones buying the property so if someone is having difficultly contacting your parents then they should come to you for direction.

That’s what I’m wondering.  Will they be needed by anyone…. They aren’t staying in hotels, so won’t necessarily be that easy. 

theartfullodger

Amazingly different lenders have different rules and processes.  Who'dof guessed eh!

Bobbityboo

Albermarle said:

Just worried that my parents won’t be contactable! 

If one of them has a mobile phone and a contract that allows roaming, then they should be easily contactable. In fact it is all too easy nowadays to contact anyone at any time !

There are parts of the UK where it’s hard to get a mobile signal (parts of Wales, Dorset and Devon (particularly Dartmoor).  Certain parts of Europe it can also be tricky.  It can actually be harder than you think in some areas to stay in touch.  Particularly if the landline is bad and you have slow broadband.  

Parents are planning in being in areas that are ‘off grid’ areas.  Hence my wondering if they will need to be contacted.  Trying to plan ahead and covering off anything.  

youth_leader

I travel the world and always keep in contact with my adult children with Facebook messenger.  Do your parents have that?  You can make calls from wherever you are with it.

grumpy_codger

For a gifted deposit a lender is likely to want a letter saying that they don't have any interest in the property and cannot claim anything.

And when I wanted to use a small private loan (£30K, no mortgage), my solicitor (crazy about AML) wanted to speak personally to the lender, but at the end reluctantly agreed to a video conference (she had a photocopy of his passport).