Using a gifted or family deposit for your Australian home loan

In many households parents or relatives help with a deposit. Lenders generally accept gifted funds, but they have rules about how a gift is treated and documented, so it pays to understand them before the money lands in your account.

Getting this right early avoids an awkward delay close to settlement, when a poorly documented deposit can hold up an approval.

Many lenders ask for a short letter from the person giving the money, confirming it is a genuine gift and not a loan that has to be repaid. Some also like to see a portion of genuine savings of your own alongside the gift.

Keeping clean records of where the funds came from makes the whole process smoother and widens the lenders willing to work with you.

Lenders treat a true gift differently from a loan. If the money must be repaid, that repayment is a commitment that affects how much you can borrow, so it changes the picture. Being upfront about which it is keeps your application clean.

A guarantor arrangement, where a relative uses their own property as security, is a different option again, with its own benefits and risks worth weighing carefully.

We will tell you exactly what each lender needs to accept your gifted deposit, help you prepare the paperwork in advance, and match you with lenders whose policies suit your situation.

Book a no-obligation chat and we will make sure your family help counts.