Document background
The Gift Letter For Mortgage is a crucial document in Singapore's property transaction process, particularly when family members or others provide financial assistance for property purchases. This document has become increasingly important due to Singapore's strict lending regulations, including the Total Debt Servicing Ratio (TDSR) framework. The letter serves to clearly document the gift's details, protecting both the donor and recipient while satisfying lender requirements and regulatory compliance. It includes essential information such as the gift amount, relationship between parties, and confirmation that no repayment is expected, while ensuring compliance with Singapore's anti-money laundering regulations and banking requirements.
