Can My Parents Pay My Conveyancing?

Yasmin02

Hi All
I am neareing completion and my paretns have offeredto pay for my conveancying...is itok for them to transfer the money into my solicitor account or depsoit a cheque into my solicitors account? I am not to sure if it has to come from my bank account as I am buying the flat?

Kind Regards

Yasmin

Debt_Free_Chick

Let your solicitor know in advance - it should be OK for the fees. Might be more tricky for a deposit though.

dmg24

My parents paid for my deposit and conveyancing by cheque. No problems at all.

Yasmin02

Hi

I thought it would be ok if not i susppose they can transfer the money into my bank account and then i can transfer it into my solicitors account! I am not to sure why it would be more difficult for my parents ot lend me a deposit (luckily i did not need them for my desposit) but just for my conveyancing!

Thanks for your replies...Yasmin @)

Debt_Free_Chick

Yasmin02 wrote: »

I am not to sure why it would be more difficult for my parents ot lend me a deposit (luckily i did not need them for my desposit) but just for my conveyancing!

Because for the amount likely to be involved, the Solicitor might need to do some background checks to comply with the Money Laundering Regulations i.e. to check that the thousands of pounds they would be paying aren't the proceeds of crime!:eek:

Yasmin02

Debt_Free_Chick wrote: »

Because for the amount likely to be involved, the Solicitor might need to do some background checks to comply with the Money Laundering Regulations i.e. to check that the thousands of pounds they would be paying aren't the proceeds of crime!:eek:

Hello

Thank you very much now i understand my conveancying is £3,000 so i am sure it iwllnot cuase ot much problem i think i may just get my parents to transfer the money into my account it as to avoid any confusion!

Yasmin

PasturesNew

£3,000 ... obviously includes the stamp duty portion