To get a mortgage with a gifted deposit, you typically need a gift declaration letter regardless of the amount. This letter confirms the money is a gift, not a loan.
It should include details like the donor’s name, the amount gifted, and their relationship to you.
Mortgage lenders require this letter to ensure the funds aren’t another loan burdening you. It verifies the source of the money, fulfilling both lender and regulatory requirements for tracing your deposit’s origin.