Gatehouse Bank has widened its gifted deposit criteria to accept funds from non-family members and eligible donors living overseas.
The bank previously accepted gifted deposits only from close family members living in the UK.
Under the revised criteria, deposits may also be gifted by people living in 54 approved overseas jurisdictions, including Australia, Canada, France, Germany, Ireland, Japan, Singapore, the United Arab Emirates and the United States.
The full list also covers Andorra, Austria, Bahrain, Belgium, Bermuda, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, Gibraltar, Greece, Guernsey, Hungary, Iceland, the Isle of Man, Italy, Jamaica, Jersey, South Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Macao, Malaysia, Malta, Moldova, the Netherlands, New Zealand, Norway, Oman, Poland, Portugal, Qatar, Romania, San Marino, Saudi Arabia, South Africa, Slovenia, Spain, Sweden, Switzerland and Uruguay.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “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.”
