I've been reading through other posts but can't find a situation similar to mine.
My boyfriend and I have already been approved for a mortgage, we have our 6 month approval. We won the bid on a house but need to top up on our €50k deposit to reach the sale agreed price with gifts from our families.
He received €10,000 from his parents as a gift, so that's straightforward enough.
Now the problem is my side as I'm getting my gift from multiple sources but are all from family members, which is €8000 from an aunt, €7000 from grandmother, €5000 from my mother, €5000 from an uncle and €4000 from another uncle, totaling €29,000.
From your experiences will the bank have a problem with so many gifts? My family aren't rich either it's just that a great uncle died and left them a decent inheritance each in his will, otherwise I would never have gotten these amounts.
Also I believe my broker wants all the funds in one account, but will that bring tax implications for us if I transfer my €29,000 into his account, as we are not married??
Thanks
My boyfriend and I have already been approved for a mortgage, we have our 6 month approval. We won the bid on a house but need to top up on our €50k deposit to reach the sale agreed price with gifts from our families.
He received €10,000 from his parents as a gift, so that's straightforward enough.
Now the problem is my side as I'm getting my gift from multiple sources but are all from family members, which is €8000 from an aunt, €7000 from grandmother, €5000 from my mother, €5000 from an uncle and €4000 from another uncle, totaling €29,000.
From your experiences will the bank have a problem with so many gifts? My family aren't rich either it's just that a great uncle died and left them a decent inheritance each in his will, otherwise I would never have gotten these amounts.
Also I believe my broker wants all the funds in one account, but will that bring tax implications for us if I transfer my €29,000 into his account, as we are not married??
Thanks