Builders Deposits

Builders Deposits

Builders Deposits - Builders deposits are a form of gifted deposit in which the construction company or individual that build a property fund the whole, or a proportion of the deposit in a mortgage purchase process. For those with limited cash funds or ability to capital raise, builders deposits can be the ideal solution in obtaining a mortgage. When lenders tighten their lending criteria, it is often the case that lower loan-to-value ratios are required to attain a mortgage. In these cases, a builders deposit can contribute towards an increased deposit amount, lessening the financial burden of a lump-sum payment at the start of a mortgage term.

However, some lenders may not accept builders deposits and other forms of gifted deposit as part of the deposit on a property. In some instances, builders deposits are seen by lenders as a reduction in the property’s value when assessing your mortgage application, not as a contribution towards a deposit down-payment.

Our specialist team of mortgage advisers are adept at finding mortgage products from mortgage lenders that recognise builders deposits as contributing towards a deposit payment. We search a wide range of lenders, from High Street banks and building societies to private lenders to find the most appropriate mortgage products for you. Our personalised, bespoke service aims to make all the terms and conditions of a mortgage obtained partly using a builders deposit as clear to you as possible, making sure you are fully informed at every stage of the application process.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

Searching for a lender that recognises builders deposits? Our specialist brokers can find the right lender for you. Contact us today.

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