Mortgage gift from parents

[Scrapper]

Hi,

My girlfriend and I will be applying for a mortgage soon. We're currently saving €2k a month between us and have €12k saved sofar. We have just been given an extremely generous gift of €50k to put towards our savings and are wondering what's the best thing to do with it? Do we simply lodge that into our savings account prior to the application and submit a letter (signed by the donor) stating that the money is not to be repaid?

Thank you

 

[ryaner]

The banks have a form letter for gifts that they can give you.

Saving 2k a month for 6 months is what they'll mainly look at.

 

[JackD]

Further to this, could anyone suggest the best and most financially and tax-effective of contributing a mortgage deposit of 30k to one or (separately) two daughters?

 

[cremeegg]

From personal (second hand) very bitter experience buy jointly with the daughter. Put your own name on the deeds.

In the case I know of this was the best thing the parents could have done for the daughter.