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[quote author=Squashed_Fly

Oh, and just for the record, those pople that have had years of owning houses & having mortgages, probably don't understand, and can't relate the issues surrounding...

At 18 you are a responsible adult, if only in the eye of the law.

The problem SF is that you have commented on this thread and many others on this forum from a position that you think is fact. ...

You really are an arrogant, patronising & condascending knob at times Graeme.


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Happy to accept that one SF - a calm and measured response. Also happy to accept that if I "bigged"...

Of course, as I have said a number of times, it's all your choice as to what you do and how you do it. We all live and are responsible for our own decisions in life.

My choice is to be in the...

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As per usual, this thread is steering a long way from the initial post where I was actually trying to share something I'd learn that may, or mat not, be of use to someone else in the same...

Star, you can lead a horse to water, but you can't force it to drink. I have your number for next year ;)

Ryan, in my experience, this is the single most important and BEST thing you can do. The bigger your deposit, the less interest you will pay each month, and the quicker you will be able to pay it off...

The mistake I made listening to an IFA was to take out an interest only mortgage. The plan was that I could pay off the capital element of the mortgage after 25 years by utilising the cash amount I...

We don't know whether the valuer has deliberately inflated the value to seal the deal (illegal) or whether it's a genuine discount from market value by a desperate seller (legal).

Like you I'm...

The surveyor cannot inflate the price above market value. If they do it's mortgage fraud.

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I thought that was what I was saying Lisa ;) The market value is inflated above sale price :)

That's right col - 11 years as a solicitor so maybe my advice should be followed ? ;) [/quote]


Star....at last. Some sense coming lads. ;D ;D

Yes mate who then passes it on, after taking a few weeks of free interest payments, to the vendor along with the rest of your hard earned ;D

Again, so much change in 20 years. It used to be the case that if you didn't keep up the repayments on the mortgage the lender would reposses your house and sell it to recover the debt. Bizarre ;D

If thats the case then things really have changed since I last did this ;D. In my day, the deal was done between the vendor and buyer, the deposit was paid by the buyer to the vendor and the lender...

I think in a roundabout way Lisa we are sort of agreeing with each other. I'm just trying to understand this "Gifted Deposit" term which I have never heard of before, who it is doing the gifting...

It cannot just be an agreement between buyer and vendor the lender/surveyor have to agree to the lending too.
In general you can't get a mortgage of £162K for a £170K value because that's higher...

I have been struggling with this term "Gifted Deposit" but having reread the posts I am wondering if thats just sales patter for a mutually agreed reduction in the deposit amount between buyer and...

As its been 20 years since I last bought a house I don't understand this gifted deposit thing. Back in the olden days you agreed the deposit to be paid with the vendor - it was something you...

I'm no expert so won't hand out advice, but from personal experience I have been left with the conclusion that simple is best. On two occasions I have taken out mortgages which seemed fine at the...