Purchasing a parents home with no deposit

JDQ0604

Registered User
Messages
15
Can my mother in law gift us equity in her house so as to negate the requirement to get a 20% deposit together.
 
Yes, but you'll still have to demonstrate that you can afford the mortgage repayments by saving/paying rent/repaying loans in advance of your mortgage application.

Also, I understand that some banks won't lend 100% of the purchase price (e.g. €100k of the purchase of a €500k property is a gift).
 
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