Deposit Source

Acceptable Sources of Deposit 

• Savings
• Proceeds of sale / capital raising from existing property
• Builders’ and vendors’ deposits of up to 5% of purchase price permitted. Such incentives are to be deducted from the purchase price so that the loan is calculated upon the lower of the discounted purchase price or valuation
• Parental gifted deposits are acceptable up to a maximum of 50% of the lower of the purchase price or valuation
• Gifted equity

Unacceptable Sources of Deposit 

• Gifts from Occupiers not named on the mortgage
• Deposits funded through unsecured credit
• Vendor cash deposits
• Deposits from employers
• Deposits derived from Crypto currency