Solicitors Money Laundering Checks?

Vortex1

Hi guys,
10 days from agreed completion my solicitor has just emailed me to say he has forgotten to do money laundering checks. I am transferring a largish amount to him, over 200k.

The solicitor has not advised what checks are required as yet. If anyone here knows I would be grateful for the information so I can have everything to hand and not slow up the process.

kingstreet

Normally, statements showing the source of the funds and if recently moved to one account, the build up (six, maybe twelve months) in the original source accounts.

Letter from donor confirming gift, no repayments and no interest in property required if any part of deposit is a gift.

Thrugelmir

Proof of source of funds. Were they held in a savings account for example. If so, may wish to see the original statements. Or have you sold investments or a house. All have a paper trail.

vectistim

Plus proof of who you are - proof of identity and address

WestonDave

He may mean the know your client stuff in which case it sounds like a copy of driving licence or passport (photo id) to prove you are who you say and a recent utility bill/bank statement etc to show your address stacks up with what you've told them. If you are heading in to see them in the next few days then take those with you just in case - if not you may need to find a local solicitor to provide certified copies to send in (sending originals through the post is not advisable!).

That said they may just do them online via a credit reference agency which takes a few seconds and may be why you haven't been asked for anything. It leaves a trace on your credit file that you've been ID checked that you will see if you look at it, but its not something that is visible to lenders.

Vortex1

Excellent, many thanks guys. It doesn't sound like anything that will hold up the completion too much then.