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Co-habiting / Common Law Gifted Deposit Advice

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  • Co-habiting / Common Law Gifted Deposit Advice

    Halifax state they will accept a gifted deposit from the partner of a mortgage applicant on the basis they are cohabiting / common law. Does anyone know if they would accept it from the partners parents?

    Similarly Natwest state they would accept a gifted deposit from "Third Parties" subject to a letter stating they dont require reimbursement or have any interest in the property. Does anyone know what constitutes as a third party in this instance?

    If anyone works / has worked at either bank or has dealt with them in the past or is dealing with them currently I would greatly appreciate your advice.

    Kind Regards

  • #2
    Hi there,
    I suppose that you have already found the answer in the meantime, but as people are still viewing this question, let me post a reply for reference. I am a mortgage broker, so do deal with Halifax and Natwest as well.
    Halifax - the answer is no. Their list of who they accept gift from is quite clear and while parent-in-laws are acceptable, parents of an unmarried partner aren't.
    Natwest - third parties can be your partner's parents. In other words, Natwest doesn't really have any restrictions on who gives the gift as long as they are willing to sign a piece of paper regarding where the money comes from, what their relationship is to you and that they don't want anything in return for the money.
    In case of any more questions, you can find lots of info on our website or feel free to give us a call. It's free and carries no obligation.
    I am a Mortgage Advisor
    For further information and for tailored advice:
    www.bluewingfinancials.co.uk

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