Gifted Deposits

MrsG08

We are in the process of purchasing a new home but do not have enough equity left in our home to put down as a deposit for it. We have been told about "gifted deposits" where the seller agrees to give you the equity left in their property (but no money changes hands so its just words really!). We have had a meeting with the Halifax who come up with quite a good deal but we were wondering if you know of any other Lenders who lend on the basis of a "gifted deposit" with a good rate. The rate of the Halifax mortgage was going to be 6.39% so we were looking to see if there was anything else out there? Please advise....

Dr_Robert

Don't know the rates offered but Abbey will do gifted deposits.