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  • FIRST POST
    • Klou29x
    • By Klou29x 6th Mar 18, 12:36 PM
    • 2Posts
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    Klou29x
    Vendor gifted deposit
    • #1
    • 6th Mar 18, 12:36 PM
    Vendor gifted deposit 6th Mar 18 at 12:36 PM
    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 donít 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 havenít made any sense Iím new to this lol.
Page 1
    • kingstreet
    • By kingstreet 6th Mar 18, 12:38 PM
    • 33,575 Posts
    • 18,212 Thanks
    kingstreet
    • #2
    • 6th Mar 18, 12:38 PM
    • #2
    • 6th Mar 18, 12:38 PM
    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.
    • Klou29x
    • By Klou29x 6th Mar 18, 12:41 PM
    • 2 Posts
    • 0 Thanks
    Klou29x
    • #3
    • 6th Mar 18, 12:41 PM
    • #3
    • 6th Mar 18, 12:41 PM
    Thank you just my luck! Any other banks accept the gifted vendor deposit ?
    Sick of renting
    • itzmee
    • By itzmee 6th Mar 18, 1:11 PM
    • 377 Posts
    • 988 Thanks
    itzmee
    • #4
    • 6th Mar 18, 1:11 PM
    • #4
    • 6th Mar 18, 1:11 PM
    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.
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