A gifted deposit is money given to you, usually by a parent or close family member, to put towards your house deposit. It must be a genuine gift, with no expectation of repayment.

This kind of financial help is common among first time buyers who are trying to get on the ladder, especially with rising house prices and higher upfront costs.

Who Can Gift a Deposit?

Most mortgage lenders will accept a deposit from a close family member, such as a parent, grandparent, or sibling.

A smaller number may consider gifts from extended relatives or partners, but gifts from friends or employers are less commonly accepted.

We’ll confirm which lenders are open to your situation and help you structure the application correctly from the start.

Does the Donor Need to Prove Anything?

Yes, the person gifting the deposit will usually need to provide:

  • A signed gifted deposit letter confirming the money is a gift and not a loan
  • ID and proof of address
  • Bank statements showing the source of the funds

These steps are part of anti-money laundering checks and are standard in most mortgage applications.

We’ll give you a template and talk you through what’s needed so nothing is missed.

Will a Gifted Deposit Affect My Mortgage?

Using a gifted deposit won’t stop you from getting a mortgage, in fact, it can often make your application stronger.

A larger deposit may give you access to better interest rates, and lenders will still assess your affordability based on your income.

What matters is how the deposit is presented. It must be declared properly, and all paperwork must match what the lender expects. That’s something we handle for our clients throughout the process.

Can a Gifted Deposit Be Combined With Other Savings?

Yes, you can use your own savings alongside a gifted deposit to make up the full amount.

This is common for buyers in Hull who are adding to a family contribution with their own funds, a Lifetime ISA, or another savings pot.

We’ll make sure everything is correctly declared, and the full deposit is accepted by the lender.

What If I’m Buying With a Partner?

If you’re buying with a partner and only one of you is receiving the gift, lenders will still want the details, especially if both names are going on the mortgage or deeds.

We’ll check what the lender requires based on how the deposit is being split, who the gift is for, and whether any declarations need to be made for legal or tax purposes.

Date Last Edited: 01/07/2026