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Mortgage advice needed
Comments
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It is not gifted equity it is a concessionary purchase. A paperwork exercise which is simple if handled correctly, and a problem if not.
The difference before the purchase price and the market value is effectively the deposit. Not something lenders will generally do and the relationship between the vendor and the buyer is key to this.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
sorry without sounding silly, what is a concessionary purchase?0
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