Property Buying Guide
Building a Deposit: A 'gifted deposit'
There are circumstances when you may be given or 'gifted' a deposit to help you on your way. The gift may be from a parent, grandparent, or nowadays, one of the new house builders wanting to incentivise you into a new home. Imagine someone paying your up front deposit for you. Wouldn't that make things much easier? If you have your heart set on a new property then there are new build gifted deposit schemes where you are given a deposit to enable you to make the house purchase. Find out more about gifted deposits from new house-builders.
There are tax consequences if the person who gave the money died within 7 years of the gift so they might want to take tax advice. There is a lot more about this in our ‘How Parents Can Help' section.
If you are interested in earning extra money to build up your deposit and help pay mortgage payments, find out more about how you could do this by calling Jayne Davey on 01491 671293 or email JayneDavey@Tiscali.co.uk.
Find out more about how to build a deposit - or even get away without needing one:
Savings l Extra work, selling things, cutting down on spending, cutting down on debt l A loan l Investing Abroad l Reducing the size of mortgage deposit needed l No Deposit Options