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Vendor gifted deposit
Klou29x
Posts: 2 Newbie
Hi,
Just looking for a bit of advice on Vendor gifted deposits.
My sister in law 10 years ago had 5% given to her by her in laws and the couple she bought her house off gave her the over 5%.
Me and my partner don’t have a deposit saved and looking to move. Halifax have told us we only need a 5% deposit and was wondering if we found a property we liked and they gave us the gifted deposit would halifax accept this.
Sorry if I haven’t made any sense I’m new to this lol.
Just looking for a bit of advice on Vendor gifted deposits.
My sister in law 10 years ago had 5% given to her by her in laws and the couple she bought her house off gave her the over 5%.
Me and my partner don’t have a deposit saved and looking to move. Halifax have told us we only need a 5% deposit and was wondering if we found a property we liked and they gave us the gifted deposit would halifax accept this.
Sorry if I haven’t made any sense I’m new to this lol.
0
Comments
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Halifax stopped accepting vendor gifted deposit cases in July 2012.
Gifts of cash or equity from close relatives are fine. A gift of equity in a landlord/tenant scenario is also acceptable.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 -
Thank you just my luck! Any other banks accept the gifted vendor deposit ?
Sick of renting
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Have any vendors offered you a gifted deposit as this is not something that all vendors do. You would need to have your own 5% deposit either from savings or family gift.0
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