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Money Laundering Checks
MysteryM
Posts: 22 Forumite
We've just had our contract through, we are currently going to potentially exchange next week.
The solicitor has sprung on us that we have to submit information for money laundering checks.
What do these checks entail, and what should I be passing through to my solicitor in order to ensure we get trough this quickly so as not to hold up exchange?
- I've order 12 months of bank statements where are money is paid in for our wages for both me and the wife. Is this far back enough? Trouble is the wife's is likely to take up to 10 days to get here
- We sold our house a few years ago so have the completion letter ready to send.
- We have various SAYE scheme money, of which I've taken photocopies off.
- I had a fixed bond for a year so have copied that.
- After selling our house a few years ago I dumped every penny we had into the stock market (share dealing account and equity isa) so have details of the profits we made there.
I'm getting the above signed by the EA, however what do I do with online only accounts, I've printed them off however how will the EA be able to sign these off as seen (we live no where near our solicitor so do everything by post).
We have 70% of the money needed to buy the house so its a large deposit. However mine and my wife's wages over the last decade more than cover it alone.
Should I be supplying p60's as well or am I over doing it? I haven't bothered copying our intermediate building soc account as that just holds money which is transferred from our online accounts (for security - as the online accounts are current accounts).
Any advice would be appreciated as I want to get this covered off without any delays.
Is that enough detail
The solicitor has sprung on us that we have to submit information for money laundering checks.
What do these checks entail, and what should I be passing through to my solicitor in order to ensure we get trough this quickly so as not to hold up exchange?
- I've order 12 months of bank statements where are money is paid in for our wages for both me and the wife. Is this far back enough? Trouble is the wife's is likely to take up to 10 days to get here
- We sold our house a few years ago so have the completion letter ready to send.
- We have various SAYE scheme money, of which I've taken photocopies off.
- I had a fixed bond for a year so have copied that.
- After selling our house a few years ago I dumped every penny we had into the stock market (share dealing account and equity isa) so have details of the profits we made there.
I'm getting the above signed by the EA, however what do I do with online only accounts, I've printed them off however how will the EA be able to sign these off as seen (we live no where near our solicitor so do everything by post).
We have 70% of the money needed to buy the house so its a large deposit. However mine and my wife's wages over the last decade more than cover it alone.
Should I be supplying p60's as well or am I over doing it? I haven't bothered copying our intermediate building soc account as that just holds money which is transferred from our online accounts (for security - as the online accounts are current accounts).
Any advice would be appreciated as I want to get this covered off without any delays.
Is that enough detail
0
Comments
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Just email copies if you can. They don't actually go anywhere I'm told by my solicitor, they have to keep records in case they get investigated.
As long as you can prove where the money came from you will be fine. It's when you have 100k just appear out of no where they Start to worry!0 -
Haha ye, was quite amusing when i sold my property in russia, and transferred money here. There literally was £145k just one day.
But the solicitor just needed to see the sale paperwork and the tax paid paperwork.
I didnt need to supply any payslips etc at all0 -
it's probably just an identity check, passport photo copy and a utility bill sort of thing0
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No they've specifically said they want bank statements, completion statements etc. plus each has to be signed by the EA if its a copy.0
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Why would the estate agent sign anything?
Why would anyone care that they did?0 -
I think they just want the estate agent to sign it to confirm that they've seen the originals.
The solicitor was recommended by the estate agents, but is no where near where i live hence all correspondence is via phone\email or royal mail.0 -
Why would the estate agent sign anything?
Why would anyone care that they did?
We got the Estate Agent to sign it, someone 'professional' signs it, and the Estate Agents (or at least ours) did it for free. If you get a local solicitor, or you doctor to sign it then they charge a fee.0 -
We got the Estate Agent to sign it, someone 'professional' signs it, and the Estate Agents (or at least ours) did it for free. If you get a local solicitor, or you doctor to sign it then they charge a fee.
Did they make you jump through hoops or did it get sorted quickly? I just want to be sure i don't miss my exchange date0 -
We got the Estate Agent to sign it, someone 'professional' signs it, and the Estate Agents (or at least ours) did it for free. If you get a local solicitor, or you doctor to sign it then they charge a fee.
Theres a reason someone could charge as opposed to not , that being , a doctore or solicitor are professionals , how does an estate agent qualify as one?Never, under any circumstances, take a sleeping pill and a laxative on the same night.0 -
We got the Estate Agent to sign it, someone 'professional' signs it, and the Estate Agents (or at least ours) did it for free. If you get a local solicitor, or you doctor to sign it then they charge a fee.
Estate agent, professional... hahaha.
Though I don't doubt your story is true, they don't qualify for such duties really. Perhaps because the solicitor knows them they can do it.0
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