Gifting a deposit to a friend or family member? We’ve got something for all of you.
We understand that for some aspiring homebuyers getting a deposit together can be a tall order. That’s why we’re helping. If a parent or loved one is supplying someone buying a Redrow home a gifted deposit, we’ll contribute £1,000 to it. And as a thank you on your behalf, we’ll give the people gifting the depositing £1,000 too.
Where the smart money lives
We know that when you’re investing in your child or loved one’s happiness, you want to make sure it’s a smart decision. From scenic, well-designed developments that are full of green open space to the energy efficient, open plan homes which give them plenty of room to grow, you can be safe in the knowledge that you’ve helped them find a better way to live.
A little something to say thank you
If you’re gifting someone a deposit, we’ll give you £1,000 as a thank you. It’s up to you how you spend it, you can put it towards your loved one's moving-in present or more deservingly, treat yourself!
What is a gifted deposit?
A gifted deposit is a lump sum of money gifted by a parent or loved one to someone who is purchasing a new home, exclusively reserved to contribute to all or some of the deposit they’re using to buy a new home. You can use a gifted deposit to purchase a Redrow home.
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Terms and Conditions
- Minimum of £5,000 deposit must be gifted to qualify.
- Only one party gifting a deposit can receive the £1,000 per home purchase, and the payment becomes payable on legal completion of the purchase of the new Redrow home taking place, please allow 4 weeks after the legal completion date for payment.
- The £1,000 to the purchaser will be listed on their reservation agreement and will be deducted from any funds due on legal completion of the purchase of the new Redrow home taking place.
- This incentive is not available to employees of Redrow Homes, any person connected or related to such an employee, Redrow Homes’ agents or any person either connected professionally with this incentive or offer or acting in a business capacity.
- The £1,000 to the party gifting the deposit is not exempt from income tax or any other tax.
- The recipient of such fee is responsible for the declaring and paying of any tax that may be due..
- Redrow Homes reserves the right to withdraw the Redrow Reward incentive at any time.