Are annual bonus and a gifted deposit accepted as genuine savings?
Posted: Tue May 21, 2019 1:43 pm
Hi, I received a lump sum payment of $12,000 as part of our annual performance bonus which we would like to use as a deposit for a house along with a $15,000 gift from my in-laws. We’re both first home buyers looking to buy in Mickleham VIC. We’ve been renting the same place at $370 per week for the last two years and have only recently paid off our student debts (HECs) as a result we do not really have any ‘genuine savings’. We’re looking to borrow between $450,000 - $490,000. We have no other debts except a few thousand in credit cards. Are annual bonuses and a gifted deposit accepted as genuine savings? Is this acceptable to lenders?