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  • FIRST POST
    • tony brierley
    • By tony brierley 17th Apr 18, 1:26 PM
    • 2Posts
    • 0Thanks
    tony brierley
    avoid deposit
    • #1
    • 17th Apr 18, 1:26 PM
    avoid deposit 17th Apr 18 at 1:26 PM
    Hi.


    I have an house to sell, my daughter would like to buy it bit is struggling with the deposit.


    Is it acceptable/legal/possible for me to reduce the asking price by 10% and then she gets a mortgage for 90% and I can then state I paid the deposit for her without actually having the deposit?


    Thanks
Page 1
    • glentoran99
    • By glentoran99 17th Apr 18, 1:28 PM
    • 5,473 Posts
    • 4,663 Thanks
    glentoran99
    • #2
    • 17th Apr 18, 1:28 PM
    • #2
    • 17th Apr 18, 1:28 PM
    Its called gifted equity and should be possible, would probably be best advised to speak to a broker
    • ACG
    • By ACG 17th Apr 18, 1:58 PM
    • 18,331 Posts
    • 9,999 Thanks
    ACG
    • #3
    • 17th Apr 18, 1:58 PM
    • #3
    • 17th Apr 18, 1:58 PM
    As above, plenty of lenders will allow it, not all of them, but enough to get normal rates.
    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.
    • ethanscott
    • By ethanscott 17th Apr 18, 2:08 PM
    • 4 Posts
    • 0 Thanks
    ethanscott
    • #4
    • 17th Apr 18, 2:08 PM
    • #4
    • 17th Apr 18, 2:08 PM
    Its called gifted equity and should be possible, would probably be best advised to speak to a broker
    Originally posted by glentoran99
    Thank you, this helps.
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