Posted on 22 July 2011 by jamie
Does a deposit have to be saved/paid for a concessionary mortgage purchase in Scotland?
I am unable to advise you on any aspect of Scottish Law, but as far as gaining a mortgage is concerned it is not necessary to have an additional personal deposit if you are buying from a relative at a discount. If you are purchasing from anyone else and they are providing either a builder's or vendor's deposit you will need to have at least a 5% deposit based on the property value.
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