House mortgage: Gifted Deposit + General query

Nemesis379

Nemesis379

Nemesis379

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Joined
25 Dec 2009
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London, UK
Hello all,

Basically me and my partner are looking at buying our first house and my partners uncle (not related by blood) wants to gift us 10k towards the deposit (total deposit will be 30k).

My query is do we have to get a solicitor to write up a letter stating it’s a gift or can he just transfer the money to us?

As well as the above how much money will be required for solicitor fees? (It would be first-time purchase under 300k)

Thanks in advance.
 
The solicitor hired to sort out the house purchase will send a letter for you to get your uncle to sign. Don't sweat it, it is a simple 2 min form.

Conveyancing is normally like £1-2k. Mine charged £1.5k.
 
I’d imagine that you’ll need a signed and witnessed letter drafted by your solicitor stating that said uncle holds no financial interest in the property and potentially further checks regarding anti-money laundering.

We had similar with my mum helping us with our first deposit, as did my brother.
 
The lender will probably have a form your uncle will need to complete.

Gifted deposit declaration.

Basically saying he's got no interest in the property.

They might not though some lenders probably won't care
 
Gift from my family was pretty simple tbh - I think my solicitors basically asked them for details of where the money came from, and told them in writing that my solicitors were not acting on their behalf, and that they'd have no right to the property + advised them to seek advice from their own solicitor.

Didn't have to get a form witnessed or anything, I think they just wrote back confirming they understood.

Might have made a difference that the money was going into my account first, so it would all be 'my money' when the time came to transfer it.
 
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