Gifted loan deposit causing stress

EssexHebridean

eddddy said:

Bananallama_73 said:

Yes, it's entirely trust based and they're happy to say it's a gift,  but would still like it back eventually 

EssexHebridean said:

From now on, it's a gift. End of. What you privately discuss with your parents behind closed doors is entirely up to you - but they will be expected to sign gifted deposit letters stating that it is a gift. The more you talk about this being repayable the more chance there is that you will accidentally let something slip to your solicitor (who presumably also acts for the lender?) and they then HAVE to inform the lender, who will almost certainly retract your mortgage offer. 

And if you decide to follow that route, you should make the same thing clear to your parents.

When asked, if they say "it's a gift" they shouldn't add "but we would like it back eventually".

Yes - this! They *may* have to meet with the solicitor, or at least speak with them on the phone so this is important. Again, as soon as that is said to your solicitor, they don't have a choice about it - they HAVE to tell your lender. 

user1977

Also make sure they don't transfer it to your account with a reference saying "loan"....