Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Confirmation of Mortgage form

Options
  • 22-09-2014 10:40pm
    #1
    rumar
    Registered Users Posts: 164 ✭✭


    After getting our loan offer from the bank our solicitor has given us a Confirmation of Mortgage form for my parents to sign. We got gifted €50k from my parents and along with our own savings we needed to borrow €175k.

    Our solicitor was unsure about the form but thinks my parents should sign it. We can't understand why. We have spent the €50k on the house already so why would my parents need to get involved. I have already given the bank a letter from my parents saying its a non refundable gift. Any advise us what to do? Surely we sign the form and not my parents?


Comments

  • Options
    #2
    ted1
    Registered Users Posts: 23,535 ✭✭✭✭ted1


    rumar wrote: »
    After getting our loan offer from the bank our solicitor has given us a Confirmation of Mortgage form for my parents to sign. We got gifted €50k from my parents and along with our own savings we needed to borrow €175k.

    Our solicitor was unsure about the form but thinks my parents should sign it. We can't understand why. We have spent the €50k on the house already so why would my parents need to get involved. I have already given the bank a letter from my parents saying its a non refundable gift. Any advise us what to do? Surely we sign the form and not my parents?
    It's to ensure its a gift and not a loan that gas to be paid back.


  • Options
    #3
    rumar
    Registered Users Posts: 164 ✭✭rumar


    ted1 wrote: »
    It's to ensure its a gift and not a loan that gas to be paid back.


    Thanks Ted. Just our solicitor didn't seem 100%. So its only a form that's required if someone has been gifted a certain amount?


  • Options
    #4
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    rumar wrote: »
    Thanks Ted. Just our solicitor didn't seem 100%. So its only a form that's required if someone has been gifted a certain amount?
    Is nothign to do with a certain amount it s pretty standard for any gift thats going to be put towards a house purchase.

    It is to confirm its a gift and not a loan and to also have your parents sign away any interest in said property.

    Surprised your solicitor wasnt sure its standard fare. Kind of strange and worrying he/she doesnt have experience of it ....


Advertisement