Gifted Deposit Example:

Mr & Mrs Doe own a rental property worth £250,000. They wish to move the property into their Daughters name and gift her £100,000 deposit from the equity in it. Bridging Finance providers could lend Kimberley Doe her required mortgage for £150,000 as a 60% LTV. The Lenders valuation will need to confirm the £250,000 value. The property would be registered at the Land Registry as changing hands for £250,000. The £100,000 deposit will be classed as gifted deposit. (This must be from a relative) SDLT will be payable on the £250,000. Once Kimberley Doe has owned the property for 6 months she can look to remortgage this to a longer term mortgage solution and benefit from a better interest rate on a low loan to value remortgage.

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