Document background
The Money Gift Letter For Mortgage is a crucial document in Ireland's property purchasing process, particularly as rising house prices make family assistance more common in property acquisition. This document is required by Irish mortgage lenders when part of a property deposit or purchase funds comes as a gift from a family member or third party. It serves multiple purposes: satisfying the lender's need to verify the source of funds, confirming the non-repayable nature of the gift, complying with anti-money laundering regulations, and protecting all parties' interests. The letter typically becomes relevant during the mortgage application process and must be properly executed before the lender will include the gifted amount in their assessment of the borrower's deposit or funds.
