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Gifted deposits - are they legal?
Comments
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business_man wrote: »Reports by another bank who has nearly similar procedures for estimating firgures.
You need reality check.
Maybe you should look at helping others on these forums with your undoubted business accumen and accumulated property empire rather than trolling various posts for a reaction and telling us how successful you are?
Back to the original question. There have been various "artificial" schemes around for years on buying houses and I am sure there will be for many more years yet to come.
As Richard says as long as the scheme isn't underhand and not disclosed in full there should be no issues with its legality. The moral argument is another matter I guess0 -
I have just bought a property using the vendor gifted deposit and no problems whatsoever...vendor was desperate to sell and we were desperate to buy but only had a 5% deposit saved up! all done through solicitor, mortgage company well aware of the situation!!
Only problem is that you are limited to who will lend you a mortgage, and we had quite a high level of interest with the Halifax one we went for (90%) mortgage BUT still better than renting in my opinion!!
Good Luck, it can be done!!0 -
No say for example I rent my brothers property off him for 3 years and he chooses to sell it to me?
If the property is worth 140,000 pounds in 3 years and he has 100,000 left on his mortgage, how can I buy it off him with no deposit and him still getting some or all of his equity?
Regards,
Nick.0 -
Some gifted deposits aren't a fiddle at all - for example, wealthy parents sell a hosue to lucky off-spring for 75% of the market value....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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They seem correct, check the reports; :cheesy:
http://www.lloydsbankinggroup.com/media/pdfs/2011/HousePriceIndexFebruary2011.pdf
http://www.nationwide.co.uk/hpi/
:beer:
So Brit you're deliberately not updating your signature when the reports show a positive month..... Like this month, when all three indices are showing prices rising.
I pulled you up on that already in another thread and you said you'd change them that night.
Another example of you being a liar then, and trying to mislead people on the forum.
Poor show.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Nationwide:
House prices rise by 0.3% in May
On the three month on three month measure, prices rose by 0.6%
And of course, that's seasonally adjusted, so they actually rose by 0.3% MORE than they would normally have at this time of year.
Halifax:
Prices rose by 0.1% in May
And again, seasonally adjusted.
Land Registry:
House prices rose by 0.8% in April
Also seasonally adjusted, so 0.8% MORE than they would be expected to rise at this time of year.
In reality, without the seasonal adjustment house prices are currently around £8000 higher than they were at the start of the year. Can't imagine why Brit1234 wouldn't want to include that in his signature.....
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »So Brit you're deliberately not updating your signature when the reports show a positive month..... Like this month, when all three indices are showing prices rising.
I pulled you up on that already in another thread and you said you'd change them that night.
Another example of you being a liar then, and trying to mislead people on the forum.
Poor show.
The above post is pitiable. I genuinely feel pity for you. Have you nothing better to do?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
HAMISH_MCTAVISH wrote: »So Brit you're deliberately not updating your signature when the reports show a positive month..... Like this month, when all three indices are showing prices rising.
I pulled you up on that already in another thread and you said you'd change them that night.
Another example of you being a liar then, and trying to mislead people on the forum.
Poor show.
Maybe read the dates on the posts. Trouble sleeping.....?0 -
sunshinetours wrote: »Maybe read the dates on the posts.
Makes no difference.
The signature is live, it changes on all old posts when you change it currently.
Brit is ignoring all the positive house price updates..... He just can't seem to stomach the fact that prices are rising.
Still, it's classic form with him. That's now at least the 4th signature that's backfired badly. :rotfl:Trouble sleeping.....?
Nope.
In a different time zone this week. :beer:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Makes no difference.
The signature is live, it changes on all old posts when you change it currently.
Brit is ignoring all the positive house price updates..... He just can't seem to stomach the fact that prices are rising.
Still, it's classic form with him. That's now at least the 4th signature that's backfired badly. :rotfl:
Nope.
In a different time zone this week. :beer:
I know how the forum works thanks for the lesson. You replied to a 3.5 month old post to make a point0
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