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Family Gift Mortgage
cooper001
Posts: 1 Newbie
Hello,
My mum is moving out with her boyfriend and we have agreed to buy the house from her. I've been to Lloyds TSB and they've given us the offer of a mortgage that we get as a family gift so we don't pay a deposit.
My question is does anyone know of anywhere else that offers this type of mortgage?
Thanks
Chris
My mum is moving out with her boyfriend and we have agreed to buy the house from her. I've been to Lloyds TSB and they've given us the offer of a mortgage that we get as a family gift so we don't pay a deposit.
My question is does anyone know of anywhere else that offers this type of mortgage?
Thanks
Chris
0
Comments
-
Hello,
My mum is moving out with her boyfriend and we have agreed to buy the house from her. I've been to Lloyds TSB and they've given us the offer of a mortgage that we get as a family gift so we don't pay a deposit.
My question is does anyone know of anywhere else that offers this type of mortgage?
Thanks
Chris
Most lenders will be happy with this situation due to being a close family sale.
Speak to a 'Whole of Market' broker to get an idea of the products available.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
A family gifted deposit will be accepted by most - assuming you fit the other lending criteria of the chosen lender.
Be careful, as some lenders will want to see you put some funds towards the deposit as well.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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