10% Vendor Gifted Deposit

10% Vendor Gifted Deposit

10% Vendor Gifted Deposit - 10% vendor gifted deposit mortgages are mortgages where the vendor (seller) makes a contribution of 10% of the purchase price to go towards the deposit. 10% vendor gifted deposit arrangements can be highly beneficial for purchasers and particularly first time buyers who may have difficulty funding a deposit. On the other hand, buy-to-let investors can benefit from a 10% vendor gifted deposit at is minimises the capital expenditure needed to make this investment.

One of the primary problems with 10% vendor gifted deposit arrangements is that some sellers increase the purchase price to allow a 10% vendor gifted deposit contribution to be made. Since the credit crunch, lenders have been less willing to accept these arrangements as they may expose them to a bigger debt than the property is worth when it is mortgaged. Alternatively, a lender may simply deduct the deposit contribution from the size of the mortgage, effectively removing its contribution to the deposit.

We have substantial experience arranging 10% vendor gifted deposit mortgages for clients with a range of needs and requirements. Our advisers are in regular contact with a range of lenders and can ascertain which lenders are most likely to accept a 10% vendor gifted deposit contribution in your case. As a comprehensive panel of lenders mortgage broker, we are not tied to any one lender of 10% vendor gifted deposit mortgages and give impartial advice. Our personalised approach ensures that we will recommend a package that is both suitable and affordable for your needs.

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

Call us today or complete an online enquiry form for assistance securing your ideal 10% vendor gifted deposit mortgage.

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