How gifted deposits work for mortgages.
A gifted deposit is money given to you by a family member (usually parents) to use as your mortgage deposit. It must be a genuine gift — not a loan. Most lenders accept gifted deposits from immediate family members: parents, grandparents, siblings.
The donor must typically provide: a signed gifted deposit letter confirming it is a gift, proof of their identity, proof of the source of funds (bank statements showing the money), and confirmation they have no interest in the property. Requirements vary by lender — we confirm exactly what is needed.
Yes, for most lenders. Some require the applicant to contribute at least some of their own savings. Others accept 100% gifted deposits. At Hertfordshire prices where deposits of £30,000–£60,000 are common, gifted deposits make the difference for many first-time buyers.
If parents want to help beyond just the deposit, JBSP mortgages allow a parent's income to be included in the affordability calculation without them being on the property title. This is particularly useful for Hertfordshire prices where the income gap is the challenge, not just the deposit.
Call 0199 267 6961 and we will confirm which lenders accept your specific gifted deposit arrangement. Free advice, no broker fee.
Gifted deposit complications delay more Hertfordshire completions than almost any other single factor. The donor's proof of funds is incomplete. The gift letter wording does not match the lender's requirements. The donor's bank sends statements in the wrong format. We have seen every gifted deposit issue and we pre-empt them by confirming the exact documentation requirements for your specific lender before your parents or family members start gathering paperwork. One correctly prepared gifted deposit application saves weeks of back-and-forth. Call us before asking your family for the money — we will tell you exactly what the lender needs.
The information in this guide reflects the advice we give Hertfordshire clients every day. But every buyer's situation is different — your income structure, deposit, credit history, target area and timeline all affect which lender and product is optimal. A guide can inform your thinking but it cannot replace a conversation with an adviser who can assess your specific numbers. Call 0199 267 6961 for a free 30-minute assessment. We will confirm your borrowing capacity, identify the best lender for your circumstances, and issue an agreement in principle within 24 to 48 hours. Evening and weekend appointments are standard for Hertfordshire clients. No broker fee at any stage.
For further reading, see our other Hertfordshire mortgage guides: how much to buy in St Albans, Watford, Stevenage and Hertford; when to remortgage in Hertfordshire; the self-employed mortgage guide for Hertfordshire professionals; our buy-to-let investment guide covering yields by town; and the contractor mortgage guide for day rate specialists. Each guide includes worked examples with real Hertfordshire numbers. All guides are available at our blog page or by searching the articles section of this site.
Call 0199 267 6961 for a free initial conversation. We gather your income details, deposit position and target budget, then search 90 lenders to find the best combination of rate and borrowing capacity for your specific circumstances. Within 24 to 48 hours we issue an agreement in principle so you can start viewing and making offers with confidence. The call takes 20 to 30 minutes and there is no obligation at any stage. We manage the entire mortgage process from first call through to completion — lender selection, application packaging, underwriting liaison and solicitor coordination. Evening and weekend appointments are available as standard for Gifted Deposit Guide clients. No broker fee — we are paid by the lender on completion.
A bank branch offers its own products — typically 10 to 15 options from a single provider. We compare over 90 lenders including specialist providers that your bank cannot access. For Gifted Deposit Guide property values, the rate and borrowing differences between lenders are not marginal — they determine whether you can afford your target area, how much your monthly payments are, and how much interest you pay over the full term. Self-employed buyers, contractors and those with complex income benefit most from whole-of-market advice because specialist lenders routinely offer tens of thousands of pounds more borrowing than standard banks for the same income. Free advice, no broker fee.
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0199 267 6961Localnest Mortgages is an Appointed Representative of [Network Name], which is authorised and regulated by the Financial Conduct Authority (FCA). Your home may be repossessed if you do not keep up repayments on your mortgage. The information on this website is for guidance only and does not constitute financial advice.