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Shopping for vendor gifted mortgages

Vendor gifted mortgages, which others also refer to as gifted deposit mortgages, are basically a type of mortgage in which the vendor agrees to reduce the purchase price of the property you wish to acquire. The amount of money reduced will, on the other hand, serve as your ‘deposit’ in the eyes of a lender – even if no actual exchange of money took place.

SapphireGroupLTD.com

If you want more advice about this type of mortgage, consider sending your inquiries to trusted companies like Sapphire Mortgages. Aside from mortgage-related advice, the company also offers assistance for obtaining secured loans and insurance.

MayfieldMortgages.co.uk

Another website you should also consider checking out is that of Mayfield Mortgages. When assisting first-time homebuyers, the company provides them with a wide range of options to ensure that they only buy something they can comfortably pay. Gifted deposit mortgages are one of the options they offer to new applicants.

Aside from vendor gifted mortgages, the company may also help clients with moving services, equity release, insurance, as well as other types of loans. You can also use their payment calculator to initially determine whether a suggested loan is indeed viable. Lastly, the company also has their ‘how much can I borrow’ section, which will ask you about your credit score and income to determine the maximum amount of loan you can apply for. Mayfield Mortgages is currently headquartered in Boston Spa, Leeds and with another branch in Wetherby. For more information, you can phone the company, book for an appointment or send your question online.

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