Proof of monies

Gretus

Yes, we are self employed with regular money coming in to our account. Tax returns were as a proof that we earn more than enough to save the money which was obv. not enough for them

Gretus

I have suggested we send the bank statements stating all the cash withdrawals but they are literally ignoring us for as long as possible, even though we have less than a week until the agreed final completion day

mildredalien

So get your bank statements showing the cash withdrawals, get together a list of expenditures (with proof such as receipts, invoices, rental agreements or bills if possible) and the dates you deposited cash into your savings account. They just need to be able to trace the money and it is as you say it is, they'll be able to do that.

What you do isn't laundering, but cash deposited randomly and haphazardly into savings accounts could have come from anywhere, from drug deals to thefts so they need to double check.

mildredalien

Gretus wrote: »

I have suggested we send the bank statements stating all the cash withdrawals but they are literally ignoring us for as long as possible, even though we have less than a week until the agreed final completion day

So you have been granted a mortgage and exchanged? Surely any concerns should have been raised way before now, definitely get on the phone to your solicitor and maybe just send them proof (e.g. bank statements), don't wait for them to agree it.

Gretus

All right, thanks, all. I'll try and sort everything out, as the solicitors seem to be taking ages to sort a single issue over a course of a week, without any concrete questions or answers. All they do is ask to wait, which is driving us insane as we have a date when we have to move out from our rented property.

Gretus

everything was going fine, mortgage was agreed, until this proof of monies and that seems to be the only problem atm.

marksoton

I don't blame the solicitor for trying to satisfy themselves.

marleyboy

In all reality, whether you make cash withdrawals, transfers or savings, you should be able to chase the money back to its source. If you cannot, your going to have major problems in proving it is from legitimate sources.

DRFC1879

Yep - I don't know what you do for a living and I'm not suggesting that this is the case with you but it could easily be suspected to come from "cash in hand" jobs.

jackr5

Wouldn't they have asked for proof before producing a mortgage offer?