EvenStevens
Registered User
- Messages
- 72
Just be aware that you will need to have other savings and a record of saving over the past 6 months when applying. Relying on gifts to make up a large portion of the required deposit won't look too good on the application.
Just be aware that you will need to have other savings and a record of saving over the past 6 months when applying. Relying on gifts to make up a large portion of the required deposit won't look too good on the application.
Your existing mortgage payments will count towards affordability calculation.for my own curiosity would that still apply if you were a second time buyer? And getting the deposit from the sale of your original house.
Your existing mortgage payments will count towards affordability calculation.
Only one bank currently asks for a statement from the donor, as far as I am aware (if it's more than one, it's certainly in the large minority). As an aside, I'm not sure how they can even demand this, considering that the donor is not party to the loan and has not signed any documentation regarding how their data will be processed.Very interesting. I am in the process of giving my son a gift towards deposit for new house. I have got the form to sign but I didn't know they could ask for my bank statement. They have queried a lodgement for Savings Bonds that he lodged into his account & needs proof of where he acquired this money. He purchased a car with that particular money, will they now ask how he spent the money.
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