Source of deposit: Gift from occupier NOT named on mortgage

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we accept a gift from an occupier who will not be named on the mortgage. An example of this situation could be whereby two friends or a couple plan to live together and one of them purchases the property and obtains the mortgage where the other party is providing the deposit (as a gift) but will not be named on the mortgage or jointly own the property.

Policy Notes:

This situation is acceptable subject to the occupier signing a form of consent and deed of gift (post offer).

Criteria categories:

• deposits
• Policy

Last updated:

29 August 2018