I'm applying for EE and don't have the required settlement funds (CAD 12k). But my father is ready to give me the required amount of money and he'll be borrowing the same from a bank under his name. If he gives me the money with a gift deed, will there be any hassle.
I'm applying for EE and don't have the required settlement funds (CAD 12k). But my father is ready to give me the required amount of money and he'll be borrowing the same from a bank under his name. If he gives me the money with a gift deed, will there be any hassle.
its actually 12.2k , or they probably increased it slightly...
the whole point of showing proof of funds is that you dont take a loan to get that amount... even if your father gives you the money, signs on a gift deed saying this is not a loan, but just a gift to my son and that amount is not to be returned, i'm pretty sure IRCC will ask for fathers bank statements also to prove that it wasnt a loan...
you can probably go ahead and submit it without your fathers bank statement, but it will increase chances of rejection significantly.
best thing to do would be sell real estate or car or jewellery or something... and give the receipts of the item sold saying this was mine or my fathers or whatever and prove you didnt borrow the money...
I have submitted POF (Bank letter it shows i have the avg balance from last 4 months)
along with i submitted my 6 months bank statement and Gift deed from my father and his bank statement too.
Only problem in the Gift deed by mistake he mentioned my account no instead of his account no .
I have submitted POF (Bank letter it shows i have the avg balance from last 4 months)
along with i submitted my 6 months bank statement and Gift deed from my father and his bank statement too.
Only problem in the Gift deed by mistake he mentioned my account no instead of his account no .
