The gifted deposit works because you're buying the property for less than it's market value. If it's valued at £180k, and you get them to accept an offer of £170k, then it means the house is still worth 180, you just got a bargain. And the money you saved goes towards your deposit.
It might not be for everyone, but it's worth asking about if you're looking at the moment and can't afford a big deposit. The trouble is, with pets, the need of a spare room as a home office, and the plan for kids in the near(ish) future, then we need a 3 bed house and so we would be looking at around £170-£180k where we want to live.
Interestingly, I moved here from Cheltenham, where the same property would cost you £300k+!!!! Wiltshire is VERY cheap to live in!
