Solicitor Bank statement for mortgage & thirft contribution.

Kentish_Dave

No-one said it was money laundering, the point was that as your payment came from multiple people then it will be a nightmare going through the money laundering checks; I can see plenty of banks declining to loan because it’s so unusual and difficult to deal with.

May I ask, what was the reason behind it? I can’t see how the economics make sense. Is it because it’s like a lottery to some extent, as you have a chance of it paying out early?

I’ll stick with my tontine, I think, I’ve a feeling I’ll be doing very well out of that one...

BoGoF

Most of these schemes are usually small amounts so to have one at £500 per month earning zero interest seems bonkers. As said above it's going to be an administrative nightmare.