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Bob Loblaw

Hypothetical Question Regarding Deposit

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Person sees a house for sale that previously sold for £380,000.

Bank owns it now and has it for sale for £200,000.

Could person ask if bank would sell it to them for £250,000 with the £50,000 'deposit' paid for by the bank, thus enabling the buyer to get the £200,000 mortgage at 80% (and so better rates).

Just hypothetical. Rings a bell that this is what happened a lot with the city center executive new build flats.

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