Im a first-time buyer, and my money for the deposit is a gift from my parents. Does it matter if it is a gift ? What are the requirements needed if it is a gift for deposits?
Hello, A gifted deposit is absolutely fine and one of the most common sources of deposit. Each lender has a slightly different requirement for proof of this, but in short if it is a genuine gift most lender will simply want a templated letter (often provided by the lender) signed and dated from your parents. Hope that helps, Kye
