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Vendor Gift Deposit

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  • Vendor Gift Deposit

    Does anyone now how this works?

    I'm currently selling my property and a buyer has asked about this.

  • #2
    Re: Vendor Gift Deposit

    I assume the potential buyer has a gifted deposit? It's not a problem - the buyer will need to advise his solicitor and mortgage lender of this. The mortgage lender will require written evidence from the person offering the gift that they are gifting an amount of money towards the deposit, that they do not require the money back (i.e. not a loan), that they do not want their name to be on the title deeds, that they will not have a charge over the property and that they will not be living at the property.