Gatehouse Bank broadens gifted deposit criteria

Gatehouse Bank has today announced enhancements to its gifted deposit criteria, which will allow for a wider range of sources to be accepted.

Previously, gifted deposits were only accepted from close family members living in the UK. Following today’s changes, the Bank will also accept gifted deposits from non-family members and eligible individuals living overseas from selected countries*.

Gemma Donnelly, Head of Customer Propositions at Gatehouse Bank, commented: “We recognise that financial support towards buying a home can come from a variety of sources beyond immediate family members.

“By broadening our gifted deposit criteria, we’re providing greater flexibility for customers while continuing to uphold our commitment to providing responsible home financing. These changes will help more aspiring homeowners access the support they need and move one step closer to achieving their goals.”

A full list of Gatehouse Bank’s Home Purchase Plans is available here, while a list of its Buy-to-Let products is available here.

*A full list of accepted countries can be found on Gatehouse Bank’s Gifted Deposit Guidance document, available here.