Draft letter for mortgage- deposit gift

Jay, your tying yourself up in knots about something that is not a big deal!! Parental gifts are a regular occurrence and will continue to be a significant source of funds for FTB's. Generally a letter from the parents similar to that stated earlier in this post is all that is required. frequently no verification is requested. I have never come across a situation where parents bank statements have been requested. I'm sure most parents would decline such a request.

I'm not a first time buyer. Trying to get second property.

44brendan said:

Jay, your tying yourself up in knots about something that is not a big deal!! Parental gifts are a regular occurrence and will continue to be a significant source of funds for FTB's. Generally a letter from the parents similar to that stated earlier in this post is all that is required. frequently no verification is requested. I have never come across a situation where parents bank statements have been requested. I'm sure most parents would decline such a request.

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In the other thread he's trying to hide the source of the funds for his deposit which was gambling winnings, there is no parental gift.

Sesed said:

Can anyone give me an idea of the letter I need to send with my mortgage application to cover a gift from parents? Will this do? Am I missing anything?

i.e.
Dear <Bank>

We <Mr and Ms. Sesed> gift £x to our daughter <Sesed> to purchase a property. This gift is unconditional and non-refundable.

Sincerely
Mr and Ms Sesed

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Hi there, AIB have their own template that you can use. You can ask them to send it to you if you're applying for a mortgage from them.

dereko1969 said:

In the other thread he's trying to hide the source of the funds for his deposit which was gambling winnings, there is no parental gift.

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We all realise this but he must not risk being turned down for a mortgage by divulging the source of the funds is gambling. Banks reject those whose current accounts show payments to bookies.

Bronte said:

Banks reject those whose current accounts show payments to bookies.

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he doesn't have any payments to bookies, he has the lodgement of a large winning. Seeing as he can't come up with a good explanation, he should

1) come clean. Say he went to Cheltenham last year and won an accumulator. If he has no other record of betting on his bank records, it may be accepted.
2) Wait until that lodgement is over 12 months old and doesn't appear in the bank statement that he submits.

His stories so far are pretty lame and will fall apart if a few questions are asked.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

KBC asked us for only six months of statements. They did ask quite a few questions though about transfers & deposits between our different accounts so a lodgement of that size would be noticed.

Why not go to another bank that doesn't want 12 months of statements?

If you don't care about lying then surely the gift from parents is the easiest story to spin? They could have had some type of investment that ended & the value of it was split between the children. That would explain a random cash figure.