Can My Parents Gift Me Money for a House Deposit and Will Lenders Accept It?
A gift from parents is one of the most common deposit sources for first home buyers in Australia. Lenders expect it. What they also expect is documentation that the money is genuinely a gift — not a loan with repayments that will affect your borrowing capacity.
Yes — lenders accept gifted deposits. But there are rules around how the gift needs to be documented and how long the money needs to be sitting in your account before you apply. Getting this wrong doesn’t disqualify you, but it can cause delays.
What Lenders Typically Require
- A signed statutory declaration or gift letter stating the money is a gift, not a loan
- Confirmation that the gift is unconditional — no expectation of repayment
- Evidence the funds have been received into your account
- 3 months of bank statements showing the funds sitting in your account (the ‘seasoning’ requirement)
Genuine Savings vs Gifted Deposit
Many lenders distinguish between ‘genuine savings’ — money you’ve saved yourself over 3+ months — and gifted deposits. For loans above 80% LVR, most lenders require at least some genuine savings. A 5% deposit using only a gift may not qualify with every lender — but it does with many, especially under the government guarantee scheme.
The Seasoning Period
Keeping the gifted funds in your account for at least 3 months before applying satisfies the genuine savings requirement at most lenders. If you need to move quickly, some lenders will accept a gift with no seasoning period — but the lender options narrow.
What the Gift Doesn’t Solve
A gifted deposit addresses the deposit requirement. It doesn’t change your borrowing capacity, which is based on your income, debts, and the serviceability assessment. Both things need to be in place before an application makes sense.
You may wish to speak with a licensed mortgage broker to assess your personal circumstances.
This is general information only. Genuine savings and gifted deposit requirements vary by lender and LVR. Speak with a licensed mortgage broker before structuring your deposit. All loans are subject to lender approval.
Sources: ASIC MoneySmart, Home Deposit Guide; APRA Prudential Practice Guide APG 223; Housing Australia, First Home Guarantee 2025–26.
