Gifted Deposits 

We've made some changes to our Gifted Deposits policy.

We now accept gifted deposits from a wider range of family/relatives (Family Law act definition, 1966) which include; father, mother, stepfather, stepmother, son, daughter, stepson, stepdaughter, grandmother, grandfather, grandson, granddaughter, brother, sister, uncle, aunt, niece, nephew or first cousin of the person or of the person's spouse, former spouse, civil partner or former civil partner.

We've also made some changes to our process, meaning that if we're made aware of a gifted deposit that we weren't already aware of after the offer has been issued; our completions team can now issue a Letter of Variance rather than asking the underwriter to produce a new offer.

Amendments have been made to our Gifted Deposit conditions so that we no longer need to obtain the Gifted Deposit Declaration upfront before we issue the offer. Any offers issued from 23 July will contain the new conditions and the Gifted Deposit Declaration will need to be sent prior to completion via the conveyancer.

Just another way we're making it easier for first time buyers to get onto the property ladder. Find out more about how we're helping to turn first time triers into first time buyers.