Is this a gifted deposit?

libf

Barratt have confirmed that they would be happy to exchange without further funds, leaving the full balance of the deposit payable on completion.

I do have one further question... I can fund the deposit, stamp duty and conveyancing from my own funds. However, I would like to purchase some upgrades from Barratt (tiling to wet room floors, shower over the bath, etc) and for this I would need my parents help.

As this money will be due on completion and therefore passing through the solicitors, I assume that I need to declare that it is coming from my parents for them to check for money laundering. However, as it is not being used against my deposit, am I correct in thinking that I do not need to declare it to the mortgage lender?

kingstreet

Treat it as part of your deposit and do the gifted deposit letter/form to be on the safe side.