regarding the £62,500 cash savings option

Old Mar 21st 2015, 4:01 pm
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Default regarding the £62,500 cash savings option

Can i include my parents savings/retirement account, we will be staying with them for a bit once we become settled in. And they want to help financially.

Or does it absolutely have to be just my savings ALONE?
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Old Mar 21st 2015, 4:08 pm
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Default Re: regarding the £62,500 cash savings option

Originally Posted by whatadiva View Post
Can i include my parents savings/retirement account, we will be staying with them for a bit once we become settled in. And they want to help financially.

Or does it absolutely have to be just my savings ALONE?
It has to be money in your account, and can't even be a loan, any money towards it MUST be a gift. The only thing they could do is to give you the money, but then it would have to stay in your account. It has to be in an account you have access to.
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Old Mar 21st 2015, 4:10 pm
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Default Re: regarding the £62,500 cash savings option

Originally Posted by mikelincs View Post
It has to be money in your account, and can't even be a loan, any money towards it MUST be a gift. The only thing they could do is to give you the money, but then it would have to stay in your account. It has to be in an account you have access to.
ok and how long does that savings account have to be untouched for? 5 years?
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Old Mar 21st 2015, 4:17 pm
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Default Re: regarding the £62,500 cash savings option

Originally Posted by whatadiva View Post
ok and how long does that savings account have to be untouched for? 5 years?
You have to have it under your control, in your account for a minimum of 6 months. ...... and you need a letter/document from parents saying this is a gift not a loan and does not require re-payment.
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Old Mar 21st 2015, 4:17 pm
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Default Re: regarding the £62,500 cash savings option

Originally Posted by SanDiegogirl View Post
You have to have it under your control, in your account for a minimum of 6 months. ...... and you need a letter/document from parents saying this is a gift not a loan and does not require re-payment.
ok understood
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