Money & Business
Understanding mortgages
...family (for example the so-called ‘Bank of Mum & Dad’). Your lender will, in any case, need details of the other funds that you use to supplement the mortgage to buy a property. If you do use the ‘Bank of Mum & Dad’ – or similar sources of funds – the providers will need to confirm in writing that such money is a gift. Without this the lender may assume the...