Why do we need your bank statements if you’re gifting money to someone?

19 Sep, 2025
Why do we need your bank statements if you’re gifting money to someone?

We often hear this question, so you’re not alone! If you’re kindly gifting money for a deposit, we’ll need to complete a few quick checks.

This involves asking you for some documents to confirm the funds are available and having a brief chat about where they originated. This isn’t because we’re nosy—it’s a legal requirement we must follow under UK Anti-Money Laundering regulations.

These same checks are standard practice across the board, so you’ll likely find the estate agent and conveyancer will need similar information. We’re all working together to make the purchase process safe and secure for everyone.

Thank you so much for your understanding and cooperation!

 

Tom Collier Profile Image
Tom Collier - Advising Director
DipFA CeMAP FSRE

Tom is a qualified financial planner with 15 years’ experience in the financial services industry, the majority of his career to date has been spent helping his clients with their mortgages.As our resident life insurance expert, he’s always been very enthusiastic about what is, let’s face it, a rather dull subject. Tom has assisted one of the UK’s top insurers in developing and launching a new life insurance product into the broker market. He’s also very interested in the later life mortgage market and works closely with several lenders in this space, helping them develop their offering.Tom is fully fledged petrolhead, you can usually find him tinkering with an engine somewhere in his spare time.

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