TLDR: To add a Gift as a source of funds, select Gift from the list and confirm if the money has been received. Enter the contribution amount, deposit details, and Giftor's name, contact info, and relationship. Provide the gift receipt date, account holding the gift, bank statement reference, Giftor's country, and whether the amount is repayable. Add multiple sources until the full property price is covered.
Adding a Gift
In the Sources part of the Source of Funds task, you will see a list of sources that you can select. You can add as many sources as you need. Continue to add sources until your full property price is accounted for. Add your sources one at a time.
If you are receiving a Gift, select Gift from the list.
First, confirm whether you have received the money from the gift yet or not.
You will then be asked to share further details about the gift. First, enter the contribution amount that is coming from the gift received (you do not need to share the full gift amount if it is larger than the contribution being used in the transaction). Confirm if you received the amount in multiple deposits or one deposit, then select ‘Continue’.
You will then be asked to share details about your Giftor. Enter their name, mobile number and email address.
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Continuing with the task, share the date that you received the gift, and select which account holds the gift now. If you need to add a new account select ‘+ Add account’ from the drop down list. Share how the gift would be referenced on your bank statements so this can be easily found.
Finally, confirm the Giftor’s relationship to you by selecting an option from the drop down list, select their country of residence and confirm whether the amount is repayable or not.