I’ve found a lender that accepts gifted deposits up to 5% and their standard loan to value is 89%. So in effect they will loan you 94% of the purchase price. Let me explain by way of an example.
Lets say you wish to buy a property for £100,000. The vendor is offering you an incentive of a 5% deposit to be paid by the vendor. The property would be bought as follows:
Purchase Price £100,000
Vendor Gift (£5,000)
Buy To Let Mortgage @ 89% (£89,000)
Shortfall for you to make up £6,000
The rate is also a very attractive 5.45 fixed for 3 years! To apply for this mortgage please fill in the form here stating your interest in this deal, your name and email and press send.
Ajay.
Posted on: 26th Feb 2008
Lets say you wish to buy a property for £100,000. The vendor is offering you an incentive of a 5% deposit to be paid by the vendor. The property would be bought as follows:
Purchase Price £100,000
Vendor Gift (£5,000)
Buy To Let Mortgage @ 89% (£89,000)
Shortfall for you to make up £6,000
The rate is also a very attractive 5.45 fixed for 3 years! To apply for this mortgage please fill in the form here stating your interest in this deal, your name and email and press send.
Ajay.
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Posted on: 26th Feb 2008
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