EU citizen paying cash for UK property - how do I prove origins of income

Sapphira_2

EU citizen paying cash for UK property - how do I prove origins of income?

I am an EU citizen, from Greece, and am looking to move to the UK permanently and purchase a property.

Several years ago I took early retirement and have been able to accumulate enough savings that I will not require a mortgage and will be using funds from my UK bank account which I have held for 30 years and which I regularly top up via my Greek bank account.

Now, I believe that as a matter of routine I will be asked for proof of origins of income. Perhaps someone could tell me exactly how I do that, given that I was self employed and have not work for so many years, how this check is carried out, by whom and how far back and how deep this inquiry will go.

I ask these questions simply so that I will be prepared and know what files I need to bring over and not have to keep returning to Greece for forgotten documents.

Much obliged

S

olly300

Show bank statements or a bank book detailing transactions which show the money moving from the UK account to the Greek account.

Yorkie1

If you got a lump sum as part of your retirement and still have that paperwork, perhaps that would be useful?

Sapphira_2

Olly300 & Yorkie1, thanks so much for your speedy replies.

What you both suggest certainly makes sense and all that information is easily available to me. It's just that someone in the UK told me that because I am not a UK national (but I am an EU citizen) and because I do not need a mortgage that my cash may be treated with suspicion and 'the authorities' (whoever they are) would want to check it out.

I have nothing to hide but I would feel pretty insulted if this check was to be carried out on me every time I wished to purchase something like a property or a car.

Thanks again for your help. Have a good weekend

S

BitterAndTwisted

It would be carried out when you buy a property as it's part of the money-laundering legislation but would not affect your ability to buy something like a car.

ETA: I think you're mad to consider moving here permanently when you could buy e cheaper property, have a better life-style and much better weather in somewhere like Crete (Paleochora would be my choice) or even up north in lovely Thassos.