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Buying a property with savings
flogito
Posts: 1 Newbie
Hello,
Over the years I have not been employed and have been living at home. I’ve had family gift me money and had odd bits here and there not enough to pay tax on. Over the period of 8 years I’ve got enough money to buy something small perhaps for investment or to live. I’d be a first time buyer. I’m just wondering if I’d potentially run in to any issues and what the procedure would be.
Over the years I have not been employed and have been living at home. I’ve had family gift me money and had odd bits here and there not enough to pay tax on. Over the period of 8 years I’ve got enough money to buy something small perhaps for investment or to live. I’d be a first time buyer. I’m just wondering if I’d potentially run in to any issues and what the procedure would be.
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Comments
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Cash purchases are fairly normal, conveyancer/solicitor may want to see a source of funds to satisfy AML regulations.
Depends on the amount of money, how quickly accumulated and the source of that money.Life isn't about the number of breaths we take, but the moments that take our breath away. Like choking....0
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