Gift to partner (not married)

Audioh8

Hello there and thank you for reading.

A quick query as I am struggling to find hard information online. My partner has full mortgage approval and wishes to purchase a property for herself. We do live separately and I would like to help her with the deposit/gift her towards a house purchase. Can I do this or would I have to be assessed as part of the mortgage application? (that is starting the arduous process again)

I’m familiar with the tax implications there for the group C threshold etc. but wondering if it is possible or if a bank would even accept such a gift.

Thank you in advance for any clarification.

DubCount

AFAIK you would not need to be included on the mortgage or the mortgage application. You would probably need to sign something for the bank to say the money is a gift and you have no recourse for repayment etc.. Once the bank are satisfied the gift is really a gift, the money belongs to your partner and has nothing more to do with you.

Without being married, I'd chat to a lawyer before doing this.

Jet Black

You just need to complete and sign a declaration saying that the money is a gift and you have no interest in the property.

When I bought, I was left short because the bank retained a portion of the drawdown due to the house being in disrepair. I had to make up the remainder and when I said I was getting it from someone they asked me to get them to complete a declaration that the person giving the money was giving it as a gift and would have no interest in the property.

bikeman1

Make sure to send a payment of €3,000 first separately, and then the balance. The €3k is not counted for the group C threshold for CAT.