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1st time buyer - gift deposit
MoragM_3
Posts: 1 Newbie
Wonder if anyone could help. I'm a first time buyer and I've found a maisonette I'd like to buy. Its on the market for £85k and if the asking price is offered, there is a 5% gift deposit. I've already got a £25k deposit and wondered what would be the better option - offering £75k and foregoing the gift deposit if its accepted, or offering the full asking price and using the gift deposit to find a better deal with the mortgage - any thoughts?
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Comments
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Only Halifax do mortgages involving gifted vendor deposit, I think. If so, you'll get a far better range of mortgages using just your own money I reckon.0
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The gifted deposit is only a device for getting around a buyer lacking a deposit. As you have a substantial deposit, the asking price should automatically be reduced to take this into account - effectively the asking price is £80750 without gifted deposit.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
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