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deposit question

Posted: Wed Jun 24, 2009 3:41 pm
by season4
Hi all,

Do all banks need savings now?
Is a gift from my parents ok?

Thx.

Re: deposit question

Posted: Thu Jul 02, 2009 2:47 pm
by Otto Dargan
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.