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Proof of funds - solicitor
geocatwest
Posts: 29 Forumite
I was given like 15k from my grandmother (overseas) a few years ago. It's sat in my current ISA account for about one and a half year now but was one fixed transfer when I transferred it over to from my current account to my ISA account.
A gifted deposit would cause a lot of hassle for my grandmother. As the money has been dormant for a while but shows no evidence of 'saving it up' over the past year, would it be able to pass off as personal savings or not?
A gifted deposit would cause a lot of hassle for my grandmother. As the money has been dormant for a while but shows no evidence of 'saving it up' over the past year, would it be able to pass off as personal savings or not?
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Comments
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This was just a cash gift from several years ago - it has surely become personal savings?0
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That's what I thought - I just wanted to know how far back a solicitor might question the source of funds?xylophone said:This was just a cash gift from several years ago - it has surely become personal savings?0 -
Just define it as personal savings. If the solicitor queries it, show a statement showing it's been in your account for the last year - that should be enough. If the solicitor happens to query it further, well, deal with that if it happens.
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They're only likely to look back a few months. Beyond that it's either really your money, or an unfeasibly slow money-laundering scheme.geocatwest said:
That's what I thought - I just wanted to know how far back a solicitor might question the source of funds?xylophone said:This was just a cash gift from several years ago - it has surely become personal savings?
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