Mortgage Free at last but....

Ibstockblue

I had a mortgage with Northern Rock, when NR went into administration, they for some reason placed my mortgage with NRAMS who eventually passed it on to Tulip mortgages managed by Engage Credit.
On the 1st Aug this year I requested a settlement figure, after requesting it a further 3 times, I eventually got it and transferred the amount from my NatWest bank.
I received a letter on Saturday confirming the payment, but they are now asking me how I funded it for their records.
There is nothing sinister in where I got the funds from, it was savings, but I find this question rather personal and feel it’s got nothing to do with them
Has anybody else been asked the same question by their lender? Thanks

DieLard

Not personally but I guess it's probably to do with money laundering laws, I wouldn't worry about it though. Just tell them the truth and you'll be fine

DieLard

Unless of course you are laundering money lol

Tropically

Yes, it's common. It's just to prevent money laundering so you don't have to worry if you got your money legitimately. It happens whenever I transfer more than £10,000 around and once happened when I sent $3,000 around because it was an unusual transaction. I just showed a screenshot of my bank account with my salary coming in and the transfer going out, with my name showing in the screenshot. Another time I sent a copy of a letter from my employer. When my parents sent me a large amount for a deposit for a house, I sent a copy of the redemption of their fixed deposit.

Real estate is a common target for money laundering so they are right to be suspicious of those transactions.