Hi
My parents are gifiting my brother and I the deposit to buy a BTL and we intend putting a tenant in there for a year or so. My parents cannot rent it from us at this time as they have gifted the deposit. My parents would like to rent it from us in the future. As this mortgage is a non-regulated, I understand that we would need to change to a regulated in order for them to occupy it. My question is, how is the mortgage lender going to view the fact that they gifted the deposit when we come to refinance a year or two down the line, will they be less concerned?
Thanks
My parents are gifiting my brother and I the deposit to buy a BTL and we intend putting a tenant in there for a year or so. My parents cannot rent it from us at this time as they have gifted the deposit. My parents would like to rent it from us in the future. As this mortgage is a non-regulated, I understand that we would need to change to a regulated in order for them to occupy it. My question is, how is the mortgage lender going to view the fact that they gifted the deposit when we come to refinance a year or two down the line, will they be less concerned?
Thanks