Source of deposit: Gift from occupier NOT named on mortgage
Our standard acceptability
Indicates if we accept a gift from an occupier who will not be named on the mortgage. An example of this situation could be whereby two friends or a couple plan to live together and one of them purchases the property and obtains the mortgage where the other party is providing the deposit (as a gift) but will not be named on the mortgage or jointly own the property.
This situation is acceptable subject to the occupier signing a form of consent and deed of gift (post offer).
29 August 2018