Document background
A Gift Letter For Mortgage is a critical document in Swiss real estate transactions where part or all of a property down payment comes from a monetary gift. This document is required by Swiss banks and mortgage lenders to verify that the funds provided are genuinely a gift and not a disguised loan that would need to be repaid. The letter must comply with Swiss banking regulations, anti-money laundering laws, and civil code requirements. It typically includes details about the donor and recipient, the gift amount, property information, and explicit statements about the gift's irrevocable nature. The document is particularly important in Switzerland's strict mortgage lending environment, where banks require clear documentation of down payment sources and typically require 20% or more as a down payment for property purchases.
