Answering Your Property FAQs

Q. What source of funds information do I need to supply if I am receiving a gift to help me with my purchase?

A. We will need to see evidence of the ultimate source of funds you will be using to purchase property e.g. a bank statement.

If some or all of the funds will be provided by way of gift we will need to see the following information:

1. A copy of the passport of the person(s) making the gift

2. A bank statement showing the source of the gifted funds

3. If it is intended that the funds will be a gift we will need the person(s) making the gift to sign a letter with the following wording:

“I/ we will be gifting the sum of £.................. to assist with their purchase of …………………... This is a non-repayable gift and I will have no interest in the property.”

If you are buying with the aid of a mortgage we will also need confirmation that the gift has been disclosed to your lender and that they approve the same.

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