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A Gift Letter For Mortgage is commonly required by Australian financial institutions when a property buyer receives monetary assistance from a family member or close relation to fund their property purchase. This document is essential for lenders to verify the source of funds and ensure compliance with lending criteria and regulatory requirements. The letter typically confirms the gift amount, states that no repayment is expected, and includes details of both the donor and recipient. It's particularly important in the context of Australian banking regulations, which require clear documentation of fund sources for mortgage applications. The letter helps prevent undisclosed loans being disguised as gifts and ensures transparency in property transactions. It may also be required for first-home buyer applications or when demonstrating genuine savings for loan approval.

1. Letter Date and Address Block: Formal letter heading including date and recipient lender's details

2. Subject Line: Clear identification of the document as a Gift Letter for property purchase

3. Donor Information: Full legal name, address, and contact details of the person giving the gift

4. Recipient Information: Full legal name, address, and contact details of the person receiving the gift

5. Property Details: Address and basic details of the property being purchased

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

7. No Repayment Statement: Clear statement that the money is a gift and not a loan requiring repayment

8. Relationship Declaration: Statement of the relationship between donor and recipient

9. Signatures and Date: Space for donor's signature and date of signing