Self build mortgage gift money not given

[Snowdrop131]

Currently self building with ecology mortgage, part of application was gift from parent of 50 grand. This for various reasons can't be given now do you think ecology accept this and increase loan?? Running out of money otherwise 😢

I don't know, but I would have expected Ecology to have required that the 'gift' be deposited with them or a legal commitment before granting the loan. Otherwise, everyone could say they have been promised a 'gift'.

Yeah it was a legal commitment so probably would get really messy if involved ecology. Will have to think of something else the increase costs are crazy

What milestones have Ecology set for you?

What do you mean as in release of funds?

To release money a surveyor values the site and you are allowed up to 80% of that valuation released so can get valued at any stage however end needs complete certificate from building regs they have said finished floors etc but hopefully it won't be too the extreme as in tiles etc as we now definitely wont have money to do that!