Looking to get on the property ladder?
Buying a house can be a stressful and expensive time, from rising house prices to admin fees not to mention the deposit that is required. So it’s not surprising that some buyers might look to the ‘Bank of Mum and Dad’ or other relatives for help.
However, sometimes being given money from family members for a deposit is not always straightforward. While they can make all the difference to some property buyers, gifted deposits can often bring with them complications needing expert guidance and advice.
Our Expert Team Will Advise You on Gifted Deposits
Gifted deposits must be declared to a lender and failure to do so could be seen as a breach of their mortgage conditions meaning the lender could demand immediate repayment of the loan or start a legal action against the borrower. That’s when the experienced team at Hillyer McKeown can be on hand to advise you, allowing you to get on with looking for your dream home!
- Working with you to ensure all processes are in place.
- Advising you about potential pitfalls.
- Advising you about your available options.
Glossary of Terms