We can accept deposits gifted from close family members. This must be accompanied by a gifted deposit letter from a family member where the donor confirms that there are no conditions associated with the gift, that the donor will acquire no interest in the property, and it is not repayable. We can accept deposits gifted from:
- parents (including step-parents and in-laws)
- grandparents
- aunts and uncles
- siblings
- children
- civil partners
In addition, we will seek confirmation that:
- The gift has come from the applicant's or giftor's home country
- A maximum allowable gift is £200k or the source country’s maximum allowed foreign currency transfer, whichever is lower
- The deposit must be placed into a UK bank account and denominated in UK Pounds Sterling (GBP £) to mitigate foreign exchange risk
- We cannot accept gifted deposits from High-Risk Jurisdictions subject to a Call for Action or Jurisdictions under Increased Monitoring as designated by FATF