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Gift for mortgage deposit

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  • 17-07-2018 9:26am
    #1
    snowflake1989
    Registered Users Posts: 54 ✭✭


    Hi can you clarify what you need to do when gifted money from a parent for the deposit?
    Also can you clarify how much it can be from a single parent so it legally adheres to the gifting exemption


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    #2
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    snowflake1989 wrote: »
    Hi can you clarify what you need to do when gifted money from a parent for the deposit?
    Also can you clarify how much it can be from a single parent so it legally adheres to the gifting exemption


    Hi snowflake1989,

    Thanks for contacting us here on Boards.ie.

    If you have been gifted part of your deposit, you'll need to complete a Gift Letter (a standard form provided by the Bank to show that a gift does not need to be repaid) the letter template would be included in the mortgage application pack. For information in relation to git exemption limits you'll need to contact the Revenue or check their website www.revenue.ie.

    If you'd like to request a call from one of our Mortgage Specialists, please see here.

    Thanks
    Tara


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