We accept applications where the source of deposit is from gifted equity/a concessionary purchase. We’ll require at least 5% of the deposit (the lower of the full market value or the discounted purchase price) to come from the customer's own resources. The vendor must be a family relation to at least one of the customers. This includes:
- parents (including step-parents and in-laws)
- grandparents
- aunts and uncles
- siblings
- children
- civil partners
The vendor also must:
- not be a dependent relative
- not remain in the property after the sale
- Conveyancer to provide proof of indemnity against insolvency of the two/five year period