Gifted deposit
I won't lie. I never thought I'd get to own a house so I've never really read up on it, but recently my father decided to gift me 5k for a deposit on a flat so £95,000 £5000 down 94.74% LTV. I haven't received it yet but we've had an offer accepted for the property.
Spoke with Halifax who said they'll only accept a 5k mortgage if it's not gifted but that if I had the full 10% or saved the £5000 myself then they'd let me borrow far more than I'd need. We're going to Skipton building society next and it sounds more plausible with them as their website states they'd take a fully gifted deposit but now I'm a bit worried.
I'm wondering if anyone has managed to buy a property with a fully gifted deposit that's less that 10%? Who would be a good lender and if there's anything I need to know/do to just get this done? I'd appreciate any advice at this point. This is up in Scotland.