Vendor gifted deposit

Klou29x

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.

kingstreet

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.

Klou29x

Thank you just my luck! Any other banks accept the gifted vendor deposit ?
Sick of renting

itzmee

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.