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How to get a mortgage with gift money.

  • 31-10-2021 11:15am
    #1
    AnaMariaG
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi there,

    I need help. I want to buy a house and my partner wants to help. It came to my mind yesterday that he could ask for a car loan, then give me the money as gift and then I’ll be able to get the amount needed for the house I want to buy. I reckon in four years we can replay his loan (he will be also living with me those years) then I will keep paying the rest of the mortgage.

    Does any of you know how the mortgage work? Will it be possible to make it work this way?

    Many thanks,

    Ana Maria.

    Tagged:


Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,610 Mod ✭✭✭✭Jim2007


    Before you go any further you need to do a lot more research into personal finance.

    Banks do not just hand out money based on what people tell them, from experience they know people don’t always tell the truth. If you tell them you are going to buy a car they will expect to see details about the car including possibly the purchase contract.

    As a general point you should understand that obtaining money under false pretenses is a criminal offense. So if caught in addition to having to repay the loan immediately, the bank could decide to make a complaint to the Garda.

    I’m closing this thread as we are not here to comment on this.



This discussion has been closed.
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