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On the main HSBC website regarding deposits it states "if funds are gifted from friend or family member" then the usual information about providing a letter stating no interest in the property. Bills from Private Bank, John Lewis Partnership Card, M&S and First Direct are acceptable. The underwriter may need further information - for example, business bank statements or more HMRC documents. Letter from a university, college or known language school (accredited by the UK Border Agency) only for students on a qualifying course. For intermediaries only. Gifts and builder's cash backs are not acceptable, unless they are in addition to the 25% deposit provided from the applicants own resources, Foreign nationals without indefinite leave in the UK or no right of abode entitlement not meeting the above criteria are subject to the same criteria as Non-UK residents, as set out below, Current UK photocard Driving Licence Full or Provisional (a provisional photocard driving licence can only be used for Address Verification if there is a satisfactory other document for ID. If we do, well let you know directly. The applicant(s) name and address are the same on all the documentation provided. An internet print/statement is acceptable. PDF Gifted declaration form - Amazon Web Services, Inc. The sum being gifted. Your gifted deposit letter needs to be in writing and will need to contain the following: A statement that the deposit is a gift. You're responsible for making your own arrangements to repay the capital by the end of the mortgage term, and you'll need to provide evidence that you can do so. Where an individual changes employment status within the first year: If you reproduce any information contained in this website, to be used with or advise clients, you must ensure it follows the FCA's advising and selling standards. Product Switch. Virgin Money for Intermediaries Visit our Help page to find out how. Occupier's Waiver with Legal Advice. Last two years HMRC documents as an employee or the last two years P60s as an employee or a combination of both, The latest two year's SA800 (Partnership Tax Return). Applying for a mortgage involves two stages, firstly getting a Decision in Principle; secondly making a mortgage application. PDF Gifted Deposit Form - Leeds Building Society Find out how much your customer may be able to borrow with these quick and easy-to-use calculators. Statutory Declaration form - the form you will need if the total value of the estate of a deceased customer is up to and including 30,000. When you submit an application online, we automatically run an electronic identity check. I am buying from a Parent who is providing the deposit. Use our updated Gifted Deposit Letter Template below which is suitable for your solicitor and mortgage lender. What is less common is for a friend to gift money to you as there isn't a normal reason to gift a large sum of money and not expect to get this repaid at some point in the future. Gifted deposit letter. Occupier's Waiver. Please note: the affordability calculator will not accurately support additional borrowing requests or multiple mortgage terms at this time. https://intermediaries.hsbc.co.uk/criteria/, https://forums.moneysavingexpert.com/discussion/5849355/mortgage-declined-1-month-after-being-approved. You'll be notified about this depending on your circumstances. Read by: 208,866. All too often parents or friends gifting money email something similar to the solicitor as their declaration the deposit is a gift.