I am looking to buy my first house.
I am looking in the region of spending £150,000.
Now, here is the thing. My parents are thinking of giving me £100,000 that they have. For this, i will pay them £400 per month as they are close to retirement and this will cover all their major monthly outgoings (rent, coucil tax etc).
So, i would need a mortgage of £50,000.
Would i still be looking to get a normal mortgage, or are there any special things to consider when having such a large deposit?
Thanks for any help.