Same deal: developer pay stamp duty or lower purchase price and we pay it?

Yorkie1

sbmcb wrote: »

Apparently our lender (Halifax) won't allow a gifted deposit anyway. Seems unfair as its such a common incentive these days. Anyone heard of this?

princeofpounds wrote: »

This is what I was saying. Almost no banks allow a gifted deposit.

Without necessarily disagreeing with the specifics of either post, just thought I'd flag up that there are three different types of 'gifted deposit', of which only one is not generally permitted by lenders.

Lenders are not happy to lend where a standard seller is providing some sort of cash incentive or gifted deposit.

However, the other two types of gifted deposit situation are treated differently: where the seller is close family, and where the seller is a developer.