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Gifted deposit

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Both my nan and grandad have recently passed away. The house is now my mum's and her 2 brothers. Me and my partner want to buy the house at the market value. My mum wants to gift us £25,0001 of the house equity and part of her share to cover our deposit to buy the house.

Is this possible? Or do we have to have the cash deposit available before hand?

Comments

  • ACG
    ACG Posts: 24,565 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    It is possible and at normal rates, it wont be for all lenders but it should not be overly difficult to place.
    I am a Mortgage Adviser
    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.
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