Offering a deposit

[OrmRenewed]

Before anyone says anything I have taken on board everything that has been said to me on the subject of decluttering etc. Honest I have!

But assuming that doesn't do the trick alone(and judging by the fate of neighbour's immaculate house I suspect it won't), I wanted to explore a suggestion that someone made on my other thread.

Our house is first-time buyer territory I think. But FTB are stuffed because they can't get a 15-20% deposit together (and that is what lenders are asking for). So how would it be if we asked for 10k more and then offered 10k back to the buyer in cash for them to offer their lender as deposit.

Would it help? Is it legal? What are the pitfalls?

Thanks.

i think the fact that more people dont do it already probably answers your question

Don't developers do things like that?

SparkyUK, I gather that developers have been doing this sort of thing in order to "boost" the sale price as reported to the Land Registry (because they are selling such readily-comparable properties, they are wary of pissing off people who paid full price to start with).

Yep, and I think also it helps them with future financing if they can say we sold 90% at full price (or whatever the figures are).

It seems like slightly sketchy accounting, but hey, maybe it works. Perhaps it is something your estate agent can advise on.

Yes I think that I will broach the subject with EA if we get nowhere in a few more weeks.