Gatehouse Bank said it can accept a maximum of two overseas donors for one application.
Previously, gifted deposits were only accepted from close family members living in the UK.
Gatehouse Bank will now accept gifted deposits from a selection of 54 countries, territories and dependencies. Beyond specific European nations, Gatehouse Bank also accepts gifts from Jamaica, South Korea, Bermuda, Japan, Oman, Saudi Arabia and more.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, commented: “We recognise that financial support towards buying a home can come from a variety of sources beyond immediate family members.
“By broadening our gifted deposit criteria, we’re providing greater flexibility for customers while continuing to uphold our commitment to providing responsible home financing. These changes will help more aspiring homeowners access the support they need and move one step closer to achieving their goals.”
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