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Questioning where cash to purchase property came from.
Amy11
Posts: 23 Forumite
Hello,
Wondering if anyone could give me some answers.
I am buying a flat with a family member and it will be a cash purchase.
We are hoping to purchase for £100-105,000.
What sort of questions will we be asked by the solicitors as to where the cash has come from?
The money is all legitimate and there are three of us that are contributing to the purchase.
We can show about 40,000 in cash in banks but the rest is raised from sale of possessions such as jewelery.
Will this concern a solicitor?
Any advice appreciated.
Wondering if anyone could give me some answers.
I am buying a flat with a family member and it will be a cash purchase.
We are hoping to purchase for £100-105,000.
What sort of questions will we be asked by the solicitors as to where the cash has come from?
The money is all legitimate and there are three of us that are contributing to the purchase.
We can show about 40,000 in cash in banks but the rest is raised from sale of possessions such as jewelery.
Will this concern a solicitor?
Any advice appreciated.
0
Comments
-
Presumably you will transfer the cash from a UK bank? Can you demonstrate how / where you aquired the jewelry and have receipts for the sale?"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
Yes money in uk banks.
The jewellery has accumulated over 20 odd years and don't have receipts for buying but could get receipts for selling.0 -
info as OP shpould be fine, so long as mortgage co / agent can show where they money came from, to them.. (money laundering stuff).Long time away from MSE, been dealing real life stuff..
Sometimes seen lurking on the compers forum :-)0
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