| Property | Two-bedroom terraced house |
|---|---|
| Location | Harborne, Birmingham |
| Client | Single first-time buyer, trainee accountant |
| Product | First-time buyers |
The challenge
The buyer's parents were gifting most of the deposit from the sale of an investment. Lenders and solicitors needed clear evidence of where the money came from, and the funds had been moved through several accounts.
What we did
We prepared a gifted-deposit letter and gathered statements tracing the funds from the sale to the parents' account. We chose a lender comfortable with family gifts and with professional-qualification salary progression. The conveyancing solicitor received the same evidence pack to meet anti-money-laundering checks.
The outcome
The mortgage completed at 90% loan to value with the gift accepted by both the lender and the solicitor.
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