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Source of deposit

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  • Source of deposit

    Hello everyone and thank you for a wonderful forum.

    My dad whom is pension age wants to gift me £5000 towards our mortgage deposit. However, he has has £2000 in his accounts and the remaining £3000 on his credit-cards.

    I have told him that it's very kind of him, but he doesn't need to, however he has insisted as he feels it's his duty to help his children and that he would feel hurt if I rejected it.

    I love my dad dearly and my questions are:-
    1. Is he allowed to borrow from his credit-cards and gift this to me?
    2. Could there be any issues? i.e. bank/solicitor classing the his credit-card as my debt?


    Thank you

  • #2
    Re: Source of deposit

    Anyone? BUMP!

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