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Mortgage - gift

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  • 18-03-2014 12:02pm
    #1
    Limbo159
    Registered Users Posts: 22 ✭


    I was wondering..
    If any of you got a gift from a family member for deposit for mortgage.
    What evidence did u need to provide the bank with to say where the gift came from?


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    #2
    sjbyrne16
    Registered Users Posts: 5 ✭sjbyrne16


    I was looking into this too. I think you need a signed letter from the family member to say that you do not have to repay the amount and that it is a gift. It cannot be more than 50% of the value of the deposit though. I could be wrong though.


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    #3
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    You need to get a letter from the person making the gift stating that they have gifted you X amount towards the purchase of your new home and that the gift is not repayable. The gift amount needs to be shown on your bank atatement.

    Limbo159 wrote: »
    I was wondering..
    If any of you got a gift from a family member for deposit for mortgage.
    What evidence did u need to provide the bank with to say where the gift came from?


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    #4
    Limbo159
    Registered Users Posts: 22 ✭Limbo159


    thanks a million for your help!


    these family members wouldnt be overly questioned on where the person got this gift from???????? asking for tax reasons!


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    #5
    jameshayes
    Registered Users Posts: 3,772 ✭✭✭jameshayes


    if you are not buying for 6 months, see if the family member will give you the gift now, then when applying for your mortgage they will only ask for 6 months statements, making the money look like it was always there.


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