Money laundering check by solicitors

jra505 · 20 April 2016 at 11:50PM

Hello,

We are buying a house, and the sale of our current house and the new loan we have agreed with the mortgage lender will cover the cost of the new house. We will have to use savings to cover the stamp duty etc.

Our solicitor has asked for evidence of where we will get our deposit from for money laundering check purposes. The figure that they have quoted for the "costs" is simply the cost of the house, and doesn't include the legal fees, the stamp duty etc.

Is the money laundering check only concerned with how you are funding the purchase itself, and not any of the associated costs such as stamp duty?

Thanks,

jra505

David_White · 21 April 2016 at 8:36AM

Generally speaking yes, however it can depend on how much of a jobsworth the solicitor/underwriter chooses to be!

davidmcn · 21 April 2016 at 9:09AM

You'd need to ask the solicitors. They may prefer to check the source of all funds, rather than have to keep track of what money they've checked and what they haven't.