Concessionary Purchase Family

Did you know you can purchase a property from a family member with no cash deposit? The deposit can be gifted in the way of equity in the property. Have a listen to the 60 second clip which explains more and get in touch via email Your home may be repossessed if you do not keep up repayments on your mortgage.

welcome to your 60 second snippet of the mortgage world today’s subject a concessionary purchase. what is that? that is buying a property off family but instead of using your hard-earned deposit and savings to purchase that property what you use is the equity that is gifted to you from the vendor ie your family member. The lenders that will allow you to do that without a physical deposit that could be keeping a property in the home. You’re buying mom and dad’s house because it’s the perfect house for you and your family but it’s just an option that all family can consider. There’s lots of other discussions and I’m sure family arguments that you can get into and that’s not my bag. My bag is letting you know that you can purchase property from family at a discount which would count as your deposit, that’s what a lot of people don’t know, but what’s important is that you have the opportunity to speak to an advisor who can look at the whole situation and tell you what you can or cannot do

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