You may be in the fortunate position to have family (or you are the family) that is able to support someone into a home plus if you are there are a number of ways that you can help. 

Here are two of those options:

Declaration of Gift

This is where the cash amount is literally handed over as a gift – there is no interest or repayment of that money expected at any point in time and there is no ‘hold’ (encumbrance if you want to be fancy) over the property that the money has been gifted for.

Acknowledgment of Debt

In this instance, like above there is no interest or regular repayment payable on the money – but this time it is a loan and repayment of the loan can only be requested on the sale of the house that it was used to purchase.

Both instances are acceptable by most lenders + it is a really great way to get your deposit to 20% if you’re struggling and have family who can help you out.

https://linktr.ee/beckyrunga.mortgageadviser