Hi all,
Do all banks need savings now?
Is a gift from my parents ok?
Thx.
deposit question
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
- Contact:
Re: deposit question
Almost all of the major banks now require you to have a deposit that you have saved, known as genuine savings. Home loans without proof of genuine savings are possible however they are generally limited to 90% of the property value and are only available from a few select lenders.