Buying a property from Mum and Dad | A Mortgage Now

Mortgage gifted deposits and how they should be handled – gifted deposit letters

Mortgages and Complex Deposits

Mortgages and Complex Deposits

Deposits on mortgage applications are not always straightforward transactions with cash from the buyer’s savings. Below are some examples of unusual mortgage deposit situations that can be accommodated. Yes, you can borrow your deposit. example Dad lends his son Tom £40,000 towards his home purchase. Tom has agreed to pay Dad back over 5 years […]

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

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

Yes you can buy from Mum or Dad 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 […]

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Mortgage Deposit Gift Letter

Mortgage Deposit Gift Letter

Mortgage deposit gift letter example If you are receiving part of your mortgage deposit as a gift, the donor may be asked by the lender to provide a letter confirming that the funds are a gift (not a loan). A gift letter needs to be from the donor, addressed to the lender, and must include […]

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