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  • FIRST POST
    • FTBTom
    • By FTBTom 2nd Nov 18, 3:36 PM
    • 13Posts
    • 1Thanks
    FTBTom
    Gifted Deposit
    • #1
    • 2nd Nov 18, 3:36 PM
    Gifted Deposit 2nd Nov 18 at 3:36 PM
    I have my mortgage approved but majority of my deposit has come from a gift from my parents. To date no one has asked me for proof of where this has come from, my parents have not been asked to sign anything. Are my solicitors likely to ask me before completion?

    Reason i ask is they go on holiday for a few weeks shortly and i am likely to exchange very shortly and don't want things to get delayed because i need them to sign papers etc.

    Thanks in advance!
Page 1
    • Thrugelmir
    • By Thrugelmir 2nd Nov 18, 3:40 PM
    • 61,084 Posts
    • 54,301 Thanks
    Thrugelmir
    • #2
    • 2nd Nov 18, 3:40 PM
    • #2
    • 2nd Nov 18, 3:40 PM
    Are my solicitors likely to ask me before completion?
    Originally posted by FTBTom
    Yes they are. Before exchange in fact. As solicitors will require adequate funds at point of exchange to effect completion.

    Suggest that you let your solicitor know asap. Solicitor will inform the lender.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • amnblog
    • By amnblog 2nd Nov 18, 8:11 PM
    • 10,838 Posts
    • 4,318 Thanks
    amnblog
    • #3
    • 2nd Nov 18, 8:11 PM
    • #3
    • 2nd Nov 18, 8:11 PM
    Yes, ask both your lender/Broker and solicitor about this before you allow mum and dad to fly.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Avh26
    • By Avh26 10th Nov 18, 8:27 AM
    • 1 Posts
    • 0 Thanks
    Avh26
    • #4
    • 10th Nov 18, 8:27 AM
    • #4
    • 10th Nov 18, 8:27 AM
    Yes I also have a similar issue.
    My house is due to complete on 30th Novemever but unfortunately had a set back earlier this week.
    My solicitor has informed Santander won't accept the deposit from my partner as she will be residing in the address.
    In a nutshell my partner has bad credit so could not be on the mortgage. The deposit was saved for in an ISA in her name.
    I'm hoping my broker can find a solution.
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