UK Mortgage Glossary
Gifted Deposit
Deposit money given by family with no obligation to repay.
Full definition
A deposit funded by a gift from family (usually parents or grandparents). Lenders require a signed gifted deposit letter from the donor confirming the gift is unconditional and that the donor retains no interest in the property. See the gifted deposit guide.
How this affects you
Whether gifted deposit is relevant to your mortgage depends on your circumstances — lender, product, deposit, employment, credit profile, and stage of application. An FCA-authorised mortgage broker will tell you exactly where it applies to your case.
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