What counts as genuine savings?
Many lenders want to see that part of your deposit was genuinely saved, not just received. What qualifies, how long money needs to sit, and where gifts, rent history and inheritance fit, it all varies by lender, and the differences decide applications.
What genuine savings means
Genuine savings is money a lender accepts you saved yourself, commonly around 5% of the purchase price where the loan is above 90% of the property's value. The usual expectation is that funds have been held or accumulated in your name for a period, commonly around three months, though the required amount, the holding period and what qualifies all vary by lender. Regular deposits into a savings account are the cleanest evidence; a balance that simply appeared needs a story lenders can verify.
What commonly qualifies
Savings accumulated over time, term deposits, shares or managed funds held for the period, and equity in existing property. Many lenders also accept a documented history of paying rent on time as a substitute, usually through a licensed agent, which matters enormously for renters whose deposit arrived as a lump sum. First Home Super Saver withdrawals are generally treated as savings, because they are.
What may not qualify on its own
A gift from family, an inheritance, a tax refund, a bonus, or proceeds from selling a car, these are all usable funds, but many lenders will not count them as genuine savings until they have been held for the qualifying period. A gift that sits in your account for the required months often converts; a gift that arrives the week of the application often does not. Some lenders waive the requirement entirely where a guarantor supports the loan or the loan sits at a lower loan-to-value ratio.
Why lender policy differs
Genuine savings is a lender policy, not a law. The threshold where it applies, the holding period, whether rent history substitutes, and how gifts season all differ between lenders, which is why the same deposit can pass at one lender and fail at another. No single rule applies to every lender, matching the deposit's story to the right policy is the work.
Genuine savings checker
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Genuine savings questions
Can rent count as genuine savings?
With many lenders, yes. A documented history of on-time rent, commonly six to twelve months through a licensed agent, can substitute for the savings pattern. Private rentals are harder to evidence but not always impossible. Policies differ, which is precisely where lender selection matters.
Does a gifted deposit count?
A gift is usable money but usually not genuine savings on day one. Held in your account for the qualifying period, commonly around three months, many lenders then treat it as seasoned. Some lenders accept gifts with rent history alongside; some waive the requirement at lower loan-to-value ratios. The gift letter and paper trail matter either way, our gifted deposit guide covers the evidence.
What about an inheritance?
Similar treatment to a gift at most lenders: genuinely yours, clearly documented through the estate, and generally counted as genuine savings once held for the qualifying period. Where settlement timing is tight, lender selection or a period of seasoning usually solves it.
When does genuine savings apply at all?
Mostly on higher loan-to-value lending, commonly above 90%, and policies differ on the exact line. Larger deposits, guarantor support and some scheme pathways can take the requirement off the table entirely, which is one of the quiet advantages of the structures covered in our low deposit guide.
What documents prove genuine savings?
Typically three to six months of statements for the accounts holding the deposit, a rental ledger where rent history is being used, signed gift letters for family money, and estate documentation for inheritances. The full list for your situation is in our document centre.
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General information only, not credit or financial advice. Genuine savings requirements are lender policies that vary and change; all lending is subject to individual assessment and approval.
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