Buy to let with a gifted deposit (December 2010)

A son and daughter-in-law were looking to purchase their parents’ property on a buy to let basis. It was their first buy to let and the parents were gifting them the deposit. Most lenders will not touch gifted deposits for buy to lets, especially not for first time landlords. We were able to source a lender who could help.

Loan size & type: £117,600.
Rate: Two-year fixed at 4.79%.
Property value: £168,00
Completion date: 17 December 2010