Just wondering about the potential issues of helping my OH wit the deposit for a potential mortgage. We intend to live together, however as I am a student I will not be involved in the mortgage at all. However I do have savings which I wish to contribute towards the deposit, he has a past default so in addition to seeking a better rate, having a 15% deposit would benefit us. Am I able to gift this to him?I have only seen advice about parents gifting.
Would it be affected by the fact I intend to live there? Or that I am not his parents basically, or are gifted deposits fine from anywhere? I am aware of the mortgage consent form, or alternatively I could just move in after completion.
NB. Its not the whole deposit I would be gifting, probably 1/3-1/2 to bump it up.
Also he intends to go through Halifax, if there's any specific info on gifted deposits with them.
Any advice would be great.
Would it be affected by the fact I intend to live there? Or that I am not his parents basically, or are gifted deposits fine from anywhere? I am aware of the mortgage consent form, or alternatively I could just move in after completion.
NB. Its not the whole deposit I would be gifting, probably 1/3-1/2 to bump it up.
Also he intends to go through Halifax, if there's any specific info on gifted deposits with them.
Any advice would be great.