Hi. We have recently had a mortgage offer from Natwest through a mortgage advisor.
We have a decent deposit, the money was given to us from a family member 5 months ago and we have decided to use it for a deposit on a house. We didn’t realise that a gifted deposit has to be declared and don’t remember being asked by the mortgage advisor where it came from, just what we had. Solicitors now want a letter saying who it was gifted from and that they don’t have an interest in the property, this will be fine to get but we haven’t advised the lender. The mortgage advisor is saying it shouldn’t be a problem but he needs to get back onto Natwest. We are now really worried that our mortgage offer may be retracted and we will have to go through the process again. Does anyone know if this is likely to happen?
Thanks