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Deposit Gift Letter

Danger_Mouse
Danger_Mouse Posts: 96 Forumite
Seventh Anniversary 10 Posts
in House buying, renting & selling
Hi,

My mum is giving me a large portion of deposit money as a gift and my solicitors are asking for a letter to confirm the gift and state the terms on which the gift is being made.

Does anyone know if there is a particular template I should use for this letter?

Thanks,
Matt

Comments

  • kingstreet
    kingstreet Posts: 39,191 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Mortgage lender?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Mojisola
    Mojisola Posts: 35,571 Forumite
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    I don't know why solicitors don't provide their clients with a template for these letters.

    If you google 'gifted deposit template" you'll find loads of examples.
  • kingstreet
    kingstreet Posts: 39,191 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Some lenders have a set form and will require that and not a letter.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • fairy_lights
    fairy_lights Posts: 9,220 Forumite
    When my parents gifted me money towards my deposit the letter went something like this:


    I Fairylights Dad confirm that the sum of x is given as a gift to fairylights and fairylights partner, for the purchase of x property.
    I will have no further claim on this money or the property.
    Yours sincerely,
    Fairylights dad.


    That was all he needed to say.
  • LittleMax
    LittleMax Posts: 1,407 Forumite
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    Just checked what I wrote for mum and dad to sign...

    It was addressed to the Building Society...

    Dear Sirs

    Address we were buying

    We write to advise that we are gifting the sum of £XX,XXX to our daughter LittleMax to contribute towards her deposit on purchasing the above property with her partner XXX.

    We confirm that this money is a gift and we do not require it to be repaid. We also confirm that we will have no share or interest in the above property at any time now or in the future.

    If you require any further confirmation or clarification please do not hesitate to contact us.

    Yours faithfully

    XXX
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Danger_Mouse wrote: »
    Does anyone know if there is a particular template I should use for this letter?

    Yes, your solicitor will know what they need - ask them!
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