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Welcome to Just Answer, I am a practicing solicitor in England and Wales and I will be dealing with your case today.
Kindly note, I am not available for phone calls at the moment, however I can easily assist you via this online chat.
Your family have to make a gift deed for your deposit amount, declaring that it is a gift and they would not have any interest/equity in your home. They have to provide source of those funds as well.
You would have to declare to your lender bank , that you are receiving gift deposit out of EU, they can give you some forms to get signed from the person making this gift.
They can directly transfer it to your UK bank account.
if they transfer it to your Egyptian bank account, then there will be less paperwork,
As Your bank would not have to ID the donor ,
As long as you would be able to prove the source of funds , there will not be any issue.
Another advantage of self -transferring from your own account, is that it would not be subject to inheritance tax here in the UK.
You should inform your mortgage advisor/Lender regarding this arrangement.
Exactly, if the person making the gift dies within 7 yrs , then you have to pay 40% inheritance tax , as the gift would be treated as inheritance.
Yes, that would be suffice.
No, there is no such minimum time limit requirement.
You can transfer your own money in the UK, without paying tax here.
If you need further assistance, please let me know.
Thank you and all the best.
My pleasure, thanks again.