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Signature Date DD/MM/YY / Call in branch Talk to us today Visit 0345 850 1700 skipton.co. uk Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 153706 for accepting deposits advising on and arranging mortgages and providing Restricted financial advice. I/we declare this is a non-returnable and...
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How to fill out gifted deposit

01
Obtain a gifted deposit letter from the person gifting the deposit. This letter should state the amount being gifted, the reason for the gift, and any conditions or restrictions attached.
02
Provide this gifted deposit letter to your mortgage lender along with your mortgage application.
03
The lender may require additional documentation, such as bank statements of the person gifting the deposit to verify the source of funds.
04
Ensure that the person gifting the deposit signs a declaration confirming that the gifted amount is not a loan and does not have to be repaid.
05
The gifted deposit will usually be deducted from the total mortgage amount, reducing the loan-to-value ratio.

Who needs gifted deposit?

01
Homebuyers who are unable to meet the required deposit for a mortgage can benefit from a gifted deposit.
02
First-time buyers who lack sufficient savings for a deposit can utilize a gifted deposit to get on the property ladder.
03
People whose family or friends are willing to help them financially in purchasing a property can opt for a gifted deposit.
04
Individuals who have received a financial gift from a relative or loved one specifically for the purpose of buying a home will require a gifted deposit.

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