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Why won’t lenders give you a 100% home loan any more?

Why won’t lenders give you a 100% home loan any more?

  • Your parents could give you deposit money as a gift or you could inherit the money.
  • You could sell an asset, such as shares, to fund your deposit.
  • You could use equity in another property you own.
  • A first home owners grant can count as part of a deposit.

The genuine savings rule is the tricky issue with the options above (and the fact that not everyone can take advantage of gifts or assets). But if money from a gift, sale or inheritance has been sitting in your account for three to six months most lenders will accept it as genuine savings regardless.