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Offer conditionally accepted, whats next?
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Check their criteria then on loans for deposits.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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ComputeAngel wrote: »Can my friend not write a letter stating he is gifting me the money and has no interest in the property and is not expecting the money back from me for lets say next 30 years. it is not the whole deposit, I do have a 20% of the asking price, but i will get better rate if I go for 25%.
Firstly, as others have said, this would be fraud as it's not true.
Secondly, I'm sure I've read on here that gifts towards deposits are frequently only accepted by lenders if they are from close family.
As others have said, ignore the extra 5% for the purposes of the deposit.0
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