Gifted deposits are only acceptable from the following close relatives of the applicant(s):
Parent/Step-Parent/Parent-in-Law
Sibling; Child/Step-Child/Son-in-Law/Daughter-in-Law
Grandparent/Grandchild
Aunt/Uncle
Gifted equity is acceptable up to a max of 65%, equity being gifted must be from a close relative (see gifted deposit) and where there is no declining credit.
Gifted Deposit letters will be required on all applications prior to funding, these will be obtained post offer. In addition to the signed letter, we need proof of identification from the Donor to include proof of name and proof of current residence but this does not need to be a certified copy.