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Home Knowledgebase Can my family member gift me a deposit?

Can my family member gift me a deposit?

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Yes, it is possible for a family member to gift a deposit.

However certain conditions can apply. For example it shouldn’t be requiring repayment.

Furthermore, lenders typically require you to have some savings yourself or KiwiSaver. The entire deposit shouldn’t normally come from a gift.


Gift Letter
If a family member is gifting a deposit, then it may require them to fill out a gifting letter or template. You can ask us for this.


When Is The Gift Money Payable?
The money is usually needing to be paid when either
a) The real estate agent/seller asks for a deposit, or,
b) You’re about to move into the house and settle on it

It is typically not needing to be paid as early as when just applying for the home loan. Just the intention to provide the gift is more what is required early on in the process.


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