Document background
The Gift Letter Form For Mortgage is essential in Singapore's property market where buyers often receive financial assistance from family members for property purchases. This document serves as official verification for mortgage lenders, ensuring compliance with Total Debt Servicing Ratio (TDSR) requirements and anti-money laundering regulations. It confirms the non-repayable nature of the gift, documents the source of funds, and includes necessary declarations required by Singapore financial institutions. The form is particularly important when buyers rely on gifted funds for their down payment or purchase price, helping lenders assess the genuine nature of the buyer's financial capacity.
