Gifted deposits can come from immediate family members, this can include step family, aunts and uncles and is acceptable for first time and subsequent buyers. The money must be a transparent gift that has originated in the EU and can be easily traced back to the originating source. A letter from the family member will usually be required and needs to advise the gift amount, relationship the person gifting the monies is to the applicant, confirmation that it is a gift and not a loan and therefore is not repayable, confirmation that they do not currently own the property being sold and that they will not live in the property or have any interest in the property post completion.
Nationwide’s House Price Index has reported that UK House prices increased by 0.6% in February and were 9.4% higher than February 2013. The average house price now sits at £177,846 across the
Finally, AToM was delighted to be recognised in the latest Mortgage Strategy Awards. At an event deemed ‘The Mortgage Oscars’, held at the Grosvenor Hotel on Londons Park Lane and attended by over a 1,000 guests, AToM were placed second in the ‘Best Specialist Mortgage Distributor’ category. Thank you to all who voted for us and well done Team AToM!