Originally Posted by R6_Don
"Am I correct then, that in the gifted deposit scenario, the property value is the asking price and the surveyors, lenders, solicitors all agree that that is the case i.e £180K and make their lending calculations based on that. In this case then, a 10% deposit would be required i.e £18K but the vendor requests only an £8K deposit because they have reached a sale price of £170K which is where the £10K is saved."
Not sure thats right, As far as im aware the deposit has nothing to do with the vendor and is dictated by the lender. So if the property is £180k and the morgage provider wants a 10% deposit then you need to pay £18k to the lender before they will release funds.