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0330 123 1073

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Gifting money to help family onto the property ladder

The biggest challenge for most first time buyers is saving for the mortgage deposit. In fact, it’s becoming more and more common for homeowners to help their children and grandchildren onto the property ladder with a gifted deposit.

We can accept gifted deposits from parents or step-parents, grandparents, siblings or step-siblings or from the applicant’s children or step-children. We allow gifted deposits from close family members for mortgages up to 90% LTV on our standard residential range.

For mortgages up to 95% LTV we will also require 12 months’ rental history and 3 months’ bank statements. We have two specialist products available for 95% gifted deposits.

Key features of our gifted deposit mortgage scheme

  • Can be a proportion of the deposit or the whole amount
  • Fee free overpayments up to 50% of the loan
  • Up to 90% LTV on our standard residential mortgage range
  • New Build properties acceptable up to 95% LTV