Deposit options for property finance

• One must have a minimum of 5% of the purchase price of the property in genuine savings that a lender needs to see in bank statements (past 3 months from the date of application). This will show the lender a genuine demonstration of your ability to save. This is the standard requirement.
• Have you received a gift from a family member? We can use this as a deposit source as well as long as it is declared. What if you haven't saved over the last 3 months and have received irregular deposits? That's fine - we can assist with those lenders that have a "Non-Genuine Savings" product.
• If you have an existing property though, we can use the equity in that to purchase another property.
• Further still, if you have a family member that's willing to be a guarantor on the loan application and if you qualify, then you won't need a deposit as their property will cover the upfront costs and deposit.
Talk to us if you are in this scenario and would like to learn more about how you can enter the property market!