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A Gift Letter For Mortgage is a crucial document in Irish property transactions where financial assistance is provided by a third party to support a mortgage application. It is commonly used when parents or family members contribute to a property purchase, particularly for first-time buyers. The letter serves multiple purposes: it provides the lender with assurance about the source and nature of the funds, satisfies anti-money laundering requirements, and establishes clear documentation for tax purposes. Irish financial institutions require this document to ensure compliance with banking regulations and to verify that the gifted funds don't constitute a loan that could affect the borrower's ability to repay the mortgage. The letter typically includes detailed information about the donor, recipient, property, gift amount, and explicit declarations about the unconditional nature of the gift.

1. Letter Header: Date, recipient bank/lender details, property reference number (if applicable)

2. Donor Information: Full legal name, address, and relationship to the mortgage applicant

3. Recipient Information: Full legal name and address of the person receiving the gift

4. Property Details: Address and description of the property being purchased

5. Gift Amount Declaration: Specific amount being gifted in euros, written in both numbers and words

6. Source of Funds: Clear statement explaining the origin of the gifted funds

7. Gift Confirmation: Explicit declaration that the money is a genuine gift with no repayment expected

8. No Interest Declaration: Statement confirming the donor will have no interest in the property

9. Signature Block: Space for donor's signature, witness details, and date