Solicitor asking for excessive proof of savings

harryandedwardsmum

Yes it should have been immediately apparent that there was a big difference between sale price and purchase price and no mortgage. I naively didn't expect to need to answer any questions on it either, which upon reflection seems a little silly of me!

I think what I am possibly missing is some wine, I'm sure I'll feel a lot better if I go and locate some now!

shortcrust

harryandedwardsmum wrote: »

Yes it should have been immediately apparent that there was a big difference between sale price and purchase price and no mortgage. I naively didn't expect to need to answer any questions on it either, which upon reflection seems a little silly of me!

I think what I am possibly missing is some wine, I'm sure I'll feel a lot better if I go and locate some now!

Well you can't ring them at this time on a Saturday so it's the only practical solution!;)

WatlingA5

Do let us know how you get on....

I didn't want this thread to stop at 13 posts. Not that I'm superstitious or anything

Cakeguts

I can never understand why people spend a small fortune to move house to get children into schools that are currently very good but could change for the worse in the future and don't consider sending their children to a private school and staying where they live now. If the private school changes for the worse you can change private schools. It is more difficult to keep moving to different areas chasing state schools that are going up and down in quality.

silvercar

Cakeguts wrote: »

I can never understand why people spend a small fortune to move house to get children into schools that are currently very good but could change for the worse in the future and don't consider sending their children to a private school and staying where they live now. If the private school changes for the worse you can change private schools. It is more difficult to keep moving to different areas chasing state schools that are going up and down in quality.

The value in your house remains, whereas the money spent on education cannot be recovered.

Plus the availability of good private schools near cheap areas is more limited.

Crashy_Time

silvercar wrote: »

The value in your house remains, whereas the money spent on education cannot be recovered.

Plus the availability of good private schools near cheap areas is more limited.

Depends how much you paid and when you bought it.

Slinky

We're buying cash and had to supply 6 months worth of bank statements showing evidence of any credit of £1K or more where it came from. Took an age to compile and cross reference everything as a lot of it had moved around accounts chasing interest rates. Even more annoyingly I did the same thing last year on a previous intended purchase which we pulled out of in the end and none of the info I compiled then was any use as more than 6 months had gone by.


I'm surprised that your solicitors left it this late in the process to ask for details, we supplied info several months ago (I'm just hoping we don't have to go through it again as we're 20 weeks into our purchase). The solicitors did say that if the sources of our cash changed during the process, they would need more info......

norsefox

Because plenty of people don't believe in private schooling. It would certainly be the last thing I'd ever consider doing.

And private schooling can be incredibly expensive, especially with more than one child.

Schools also don't go downhill overnight.

usefulmale

silvercar wrote: »

The value in your house remains, whereas the money spent on education cannot be recovered.

Plus the availability of good private schools near cheap areas is more limited.

House prices can go down in no time. A top-rate education should be worth vastly more to your child than your house ever will be, both monetary and otherwise.

silvercar

usefulmale wrote: »

House prices can go down in no time. A top-rate education should be worth vastly more to your child than your house ever will be, both monetary and otherwise.

Depends on the area where you live. I'm just outside London and, provided you are prepared to hold onto your home for a few years, looking back house prices have only moved one way.

We have some very decent state schools, including a top achieving grammar school within commuting distance and a few good private schools.

You don't find top private schools in cheap areas, so the combination of cheapest houses and private schools isn't going to work.