Gifted Deposit Mortgages
We specialise in helping families & Friends use gifted deposits to buy their home
Hi, I’m Liam from Drummonds Finance Group, and we specialise in gifted deposit mortgages. If you’ve been offered help with your deposit from a family member or friend, that’s fantastic, and we help clients with this every week.
Using a gifted deposit is one of the most common and accepted ways to buy a property in the UK today. Whether parents are helping their children, grandparents are supporting the next generation, relatives are giving a financial boost, or a friend is helping out another friend, lenders are generally comfortable with gifted funds as long as everything is transparent, well-documented, and clearly a genuine gift.
At Drummonds Finance Group, we’ll guide you through every stage of the process, explaining what lenders look for, what documents you’ll need, and how to make sure the mortgage runs smoothly from start to finish.
What Lenders Want to See
A gifted deposit is money given to you to use as your house deposit. The most important part is that it does not need to be repaid, and the person giving it will have no financial interest in the property once you buy it.
Lenders are required by law to check where the deposit funds come from. This is part of anti-money laundering rules and is completely normal. They’ll need:
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A gifted deposit letter or declaration confirming the money is a gift and not repayable
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Photo ID from the person giving the money
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Recent bank statements from the donor showing the source of funds
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A clear paper trail showing the transfer of money into your account or your solicitor’s account
If the gift is £10,000 or more, or comes from outside the UK, most lenders will ask for additional verification. That can include up to three months of donor bank statements for funds within Europe, or six months if the funds come from outside Europe.
If your donor lives abroad but already has a UK bank account, the process can be faster. We’ll guide you through exactly what’s needed so there are no delays or surprises.
Client Testimonies
Who Can Gift a Deposit
Every lender has slightly different rules, but most accept gifts from:
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Parents or step-parents
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Grandparents
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Children or stepchildren
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Siblings
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Long-term partners or spouses
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Aunts, uncles or other close relatives
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Some will even consider non-immediate family or friends, depending on your situation and the strength of the relationship.
Gifts from employers, vendors or business partners are usually not accepted.
If your deposit includes money from an inheritance, that can also be classed as a gift as long as the solicitor confirms the source of funds.
Why Choose Drummonds Finance Group
We specialise in gifted deposit mortgages, so we know how each lender approaches this type of application. Some accept gifts from a wide circle of relatives, while others limit it to immediate family. Some require a small amount of your own savings alongside the gift, others don’t.
By working with us, you’ll know exactly where you stand before applying.
We’ll:
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Check the lender criteria before your application is submitted
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Provide a simple donor letter template
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Review documents for compliance and clarity
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Liaise with solicitors and lenders so everything aligns perfectly
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We’ve helped hundreds of families buy homes using gifted deposits, from first-time buyers using parental gifts to couples receiving support from relatives living abroad.
Tailored Advice, Exceptional Service
The Drummonds Advantage
At Drummonds, we recognise that no two clients are the same. Whether you're in your 60s, 70s, or beyond, our goal is to understand your financial position, retirement plans, and lifestyle before recommending any mortgage solution. We take the time to get it right.
We work with over 100 UK lenders, including those who specialise in later-life lending. Whether you're applying for a residential mortgage, a buy-to-let investment, or exploring interest-only options, we’ll guide you through the process clearly and carefully. You’ll have a dedicated adviser supporting you from enquiry through to completion.
Our service doesn’t end once your mortgage is approved. We continue to offer support with future remortgages, equity release questions, or managing a growing portfolio.
You don’t need to navigate later-life mortgages alone. We’ll match you with lenders who understand your full financial picture, not just your age.
Ready to simplify your mortgage journey? Contact us today to experience the Drummonds advantage with expert, personalised advice every step of the way.