Hi All
I have applied to Skipton for a 90% with a gifted deposit, the mortgage would be for £69,750, I have £1000 plus fees, my mum would gift £1750 and my father-in-law would gift £5000. We had no intention of buying at the moment hence the reason for not saving more but we have just been informed that the house we rent is going on the market and we were offered it at a reduced price and thought it would be a missed opportunity if we did not try.
Skipton have given us a DIP and are happy to accept a letter from parents in relation to the gifted deposit. We have now submitted a full application and are waiting to hear back.
Our broker has referred us to a solicitor who has now written to us asking for a number of documents including ID and bank statements for both parent gifting the deposit for money laundering checks. We had the money transferred in to our account so I'm not sure why they are asking for this, is this how it works?
Any advice would be much appreciated?
I have applied to Skipton for a 90% with a gifted deposit, the mortgage would be for £69,750, I have £1000 plus fees, my mum would gift £1750 and my father-in-law would gift £5000. We had no intention of buying at the moment hence the reason for not saving more but we have just been informed that the house we rent is going on the market and we were offered it at a reduced price and thought it would be a missed opportunity if we did not try.
Skipton have given us a DIP and are happy to accept a letter from parents in relation to the gifted deposit. We have now submitted a full application and are waiting to hear back.
Our broker has referred us to a solicitor who has now written to us asking for a number of documents including ID and bank statements for both parent gifting the deposit for money laundering checks. We had the money transferred in to our account so I'm not sure why they are asking for this, is this how it works?
Any advice would be much appreciated?