PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Money Laundering check after failed completion day

Options
2»

Comments

  • MillyMee
    MillyMee Posts: 7 Forumite
    Part of the Furniture First Post Combo Breaker
    user1977 said:
    It's not possible to complete all AML checks at the start of the transaction, as by definition the solicitor needs to be able to trace the funds all the way through to whenever they hit their own account - so at least some of the checks need to be done close to completion. The only checks which solicitors must do at the start are to check their clients' ID, not the source of their funds.
    Thank you for your information.
    I know it's difficult to put a time on this as it may depend on the complexity. We have been told all required documents have been submitted, if this is the case how long could it take? Is it likely to be days, weeks, months as this information would have a significant impact on our decision to wait or remarket the property.
    Thank you kindly.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.