Using a gift for a mortgage deposit
If someone has given you money for a deposit in the last 12 months, please tell us when you apply for a mortgage.
You might not have to do anything, but we will let you know if you need to do anything else to prove your deposit was a gift. This depends on the size of the gift and where it’s come from.
Gifted deposits over £10,000
For larger gifted deposits of £10,000 or more, we’ll need you to fill in a Gifted Deposit Form (PDF, opens in a new window)
Please send the form to:
Nationwide Building Society
Mortgage New Business
Northampton Admin Centre
Kings Park Road
Who can give you money for a deposit?
Anyone, as long as they’re over 18 years old.
However, there can’t be any conditions attached to them giving it to you. For example, they can’t expect to own part of your property.
The only exception here is where the gift is provided by a family member and is subject to a second charge or family trust arrangement. The only condition is for the repayment of the charge upon sale of the property.
What proof will you need?
If you received the money within the last 12 months
We’ll need to see statements showing where the money came from.
If the gift has come from funds held outside the UK, or from someone who lives outside the UK:
- we’ll need to see 3 months of statements if the money is coming from within the EEA (non-UK)
- we’ll need to see 6 months of statements if the money is coming from outside the EEA.
If you received the money over 12 months ago
If you received your gift over 12 months ago, from outside or within the UK, you can use the money as a standard deposit.