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Gifted Deposit Vs Genuine Bargain Price

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Hi everyone,

It was suggested I post on here as there are some brokers on this board.

There is trouble that I am having where my solicitor wants me to use a Genuine Bargain Price Application, but my broker is adamant that I should use a Gifted Deposit application. And this has been going on for two months with neither side willing to back down.

I could post more information here, but it probably makes sense to post a link so you can read all the information/comments (please note I was a bit vague in my initial posts as I wasn't fully aware of the situation)

Only if you are interested or wanting to help of course.

This is the link:

https://forums.moneysavingexpert.com/discussion/6594295/solicitor-wants-updated-offer-from-broker-who-i-have-paid-already#latest

Thank you for your time.

Comments

  • ACG
    ACG Posts: 24,565 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Are they gifting you the deposit or are they selling it you for less than its true value? 
    I would be inclined to side with the solicitor here in that they are giving you a discount rather than giving you the deposit. 

    But I have not read the whole thread, just skimmed the first page. 
    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.
  • MWT
    MWT Posts: 10,266 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    ACG said:

    But I have not read the whole thread, just skimmed the first page. 
    If you jump to the end I think Kingstreet made a good summary post.

  • ACG
    ACG Posts: 24,565 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    MWT said:
    ACG said:

    But I have not read the whole thread, just skimmed the first page. 
    If you jump to the end I think Kingstreet made a good summary post.

    My view is that anything he says is true. His knowledge is superhuman! 
    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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