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Mortgage Deposit Gift Letter

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

Buying from mum or dad under market value? – Concessionary purchase.

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