So long as the property you want to buy is not new build, and is at least 12 months old, there is now a lender in the UK who will accept a vendor 15% gifted deposit with no contribution required from the investor. So for those of you purchasing discounted properties, distress sales, pre and post auction bargains and discounted portfolios of properties, this is for you. You do not need to bother with Bridging loans and the associated costs, nor do you have to get involved with assignable contracts, the contract can be a standard contract of sale.With property prices so depressed in the UK and the immediate future looking very uncertain for property values, this mortgage product could not have arrived at a better time. Landlords wanting to expand their portfolios will not have to release equity from their existing properties, saving time and the costs of legal and broker fees. This mortgage product can be used on discounted property today. There are also some buy to let mortgage lenders who will take an overall view of the values and the combined rents of the properties you want to buy, rather than looking at each property individually. The advantage of this is that if some properties are short of rent to make the mortgage fit and others have a higher rental than the lender requires in order to access the mortgage, the combination of the properties with the rentals added up together can mean that overall the rentals are sufficient to meet the lenders expectations and therefore all properties can be purchased compared to a lot less if each property is individually assessed. The lender offering the 15% gifted deposit will also asses groups of properties, as above, rather than individually assess. The interest rates start at 5.39% fixed rate at 80% loan to value and 5.99% fixed rate at 85% loan to value. Rental is calculated at 125% of pay rate (mortgage cost per month). Whilst 125% of the mortgage interest rate would not be workable for most new build properties, it usually does not present a problem on older properties.