Hi, I'm new to this but need advice. My parents have given me and my brother a substantial cash gift.As I understand it, a parent can gift £3,000 per year to a child free of any IHT liability. The gift letter for mortgage should be completed and provided to the conveyancing solicitor along with the gifter's proof of ID, address and proof of funds. Are you a first home buyer using a gifted deposit? A gift letter is an important, formal, legal piece of documentation that can help explain that a (usually rather large) sum of money was gifted to you. Our Deed of Gift template is for use in the UK. The deed can cover gifts of money, property and other assets, such as land and buildings. Find out everything you need to know about gifted deposits with Halifax. From knowing who can gift them, to rules and important tax issues to be aware of. A Deed of Gift is a legal document used to give a gift of property or money to another person.