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How much deposit would I need?
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So this is in Scotland?
In which case, the lender will take the HomeReport value, or purchase price, whichever is the lower.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks for that It would mean I would need to gift the money. Would that be acceptable?
Am moving the post to a new thread.
Sue
It's better, but still may not be enough. The bank would need to be certain that it really was a gift, and even then they may be concerned that tey were lending to people who had not managed to save up a deposit themselves.
Best to apply, and see what happens.0 -
kingstreet wrote: »So this is in Scotland?
In which case, the lender will take the HomeReport value, or purchase price, whichever is the lower.
Yeah sorry it is in Scotland.
Perfect, thanks for all the info.Best Wins - New York Trip, going Nov 2014: £350 House of Frazer Vouchers: £70 Handbag: Nitro Circus Live Tickets0 -
I will talk to them I could actually buy a house for them but don't really want to do this as I also have a Daughter. also at this stage in life I may need the money if I should need to go into care in the future. Also know that there would be questions with capital gains tax. I think that I need to take some legal advice. Thanks again.
Sue0
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