Father gifts deposit to help newly-weds onto the property ladder

We were approached by a newly married couple who were looking for help in getting a mortgage to buy their first home together.

The wife works full time as a nurse and the husband works in the financial services industry.

With the help of a deposit given to them as a gift by the husband’s father, they had made an offer on a 3-bed semi-detached house with garden in a popular area of Leicester.

The couple were keen to fix their mortgage payments in the short term and chose an extremely competitive two year fixed rate from a high street lender which accepts gifted deposits.

Here are the details of the terms offered:

Property value: £205,000

Loan amount: £148,500

LTV: 72%

Rate: 1.44% 2 year fixed

Term: 25 years capital & interest

Lender arrangement fee: £999 

Mortgage payment: £594 pcm

Consultant: Andy McOwat, 01625 416396

This is just one example of how we have helped secure finance for clients. If you have have a similar scenario or something you'd like us to look at please get on touch by phone (01625 416396) or email: andym@mortgagesforbusiness.co.uk. I look forward to helping you.

 

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Consultant