Buying house for cash

seven-day-weekend

Just mulling over a few options...

We have a house in Spain where until recently we have lived for five years. It has now become our second home. There is no mortgage on it.

If in the future we wanted to sell it and buy a flat or bungalow here in the UK how could we pay cash? Could we do this?

In Spain it was dead easy, you just handed over a cheque.

Just thinking of money laundering regulations.

poppysarah

It's more or less the same. They want to see some id though. And they don't do cheques or cash, all bank transfers or bankers drafts.

seven-day-weekend

Oh right....I thought I'd read somewhere that you couldn't do it at all in the UK because of money laundering rules, - bank transfer or ID not a problem.

Thanks!

Swipe

A £15 Banker's draft will do it too

Treadmill

as long as you can prove where the money came from, you'll be fine. Shouldn't be hard tp prove it came from the sale of a house.

kevinyork

We had to provide copies of bank/savings accounts to prove where the money was coming from.

seven-day-weekend

Thanks all for your helpful advice.

We're not intending to sell for some years yet, but just getting info in advance.

I will probabaly just get the money transferred from my Spanish bank account when the time comes.


Thanks all once again.