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Beyond belief
PaulBis1951
Posts: 1 Newbie
in Loans
I want to gift my daughter £10,000 £5k as gift and £5k as a loan, she is buying a property. I have just received an email with attached form to fill in requiring my passport as proof of id, bank statements to prove its my money where the money has come from etc. I am not sure if this is because daughter was short of deposit and said that I was giving her the shortfall or just more bureaucracy? Can anyone tell me that this is correct or is there a limit of gift before this is required such as £9,999
0
Comments
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Normal anti money laundering checks, just do it.0
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On top of this her lender will require you to sign a disclaimer that the whole £10k is a gift and that you have no interest in the property.0
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The £5K loan will also affect the affordability of the mortgage.Life in the slow lane0
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