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Gifted Deposit - Still Available?
christhesparky_2
Posts: 355 Forumite
As above really, is there anyone out there that would allow gifted deposit in the current climate?
Last Cigarette 24/6/09
0
Comments
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When you say gifted deposit I presume you mean as in a gift from parents or family member - if so yes, they may ask for a letter from that person to confirm it is a gift and not a loan.
If you mean a gift from the vendor then yes providing it is disclosed to the lender, doesn't exceed 5% and the property still values at the full purchase price.
Your broker will be able to point you in the direction of the best deals for such transactions0
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