Buying a property from Mum and Dad | A Mortgage Now

Potential complications with mortgage gifted deposits that you should be aware of 1. Suitable donors Lenders consider the following as suitable donors for your gift. Parents (including step-parents) Grandparents Brothers and Sisters The gifts from following are considered by a limited number of Lenders. Uncles and Aunts Cousins Family friends Personal Friends Landlords Please call us … Read more

If you are buying a property from your mother or father under market value, lenders know this is a concessionary purchase. If you are contributing deposit from your own funds in the usual way, then this wouldn’t be a concessionary purchase. A concessionary purchase, is a different scenario from the gifted deposit purchase because no deposit … Read more