Should I return a gift which is not required? Donor cannot provide ID

user1977

General_Grant said:

lisyloo said:

Are you aware you can pull out now and are not liable anything except what you've spent yourself?
Your offer is not binding.

Is that the case in Scotland?   

Yes, it would be the case in Scotland too, for what it's worth. It seems to be a common misconception (even among Scots!) that offers are somehow instantly binding.

user1977

Drone31 said:

As is stands, I have only lost £132 on the val fee at worst, I am tempted, providing the val is back without any issues, to speak to the solicitor 

Yes, just explain everything you've told us to your solicitor. There are no general rules about how these things ought to be treated, but no point dragging things out longer only to find that the solicitor has a difficulty with the mystery credit from your mum.

Schwarzwald

your mum wanted to help you with the purchase.
but she doesnt care about any AML and compliance procedures.
if you complete the house, keep the money, that's what your mum wanted to help you with.
if you dont complete the house, return the money.
IMO pretty simple.

Drone31

Schwarzwald said:

your mum wanted to help you with the purchase.
but she doesnt care about any AML and compliance procedures.
if you complete the house, keep the money, that's what your mum wanted to help you with.
if you dont complete the house, return the money.
IMO pretty simple.

You'd think, my issue is if the sols insist the money has been mingled with my own at some point and want the ins and outs I'm probably buggered, even if I could persuade my mum to get a bus pass (no chance) and provide six months of her bank statements it'll probably take things past this ridiculous deadline.

It's very likely I am overthinking it tbh!  I'm just antsy with forking out this money only to be tripped up down the line, but I guess I will just have to lay it out for them.

Maybe I should just say I sold a Rolex on facebook and that's where it's from 

lisyloo

Schwarzwald said:

your mum wanted to help you with the purchase.
but she doesnt care about any AML and compliance procedures.
if you complete the house, keep the money, that's what your mum wanted to help you with.
if you dont complete the house, return the money.
IMO pretty simple.

The issue is being tripped up by anti-money laudering regs and being unable to prove the source of the money fully and that holding things up.
There are no guarantees this won't happen.
What I don't know is it it can definitely be excluded if it's not part of the sale or whether anything on your statements is up for the spanish inquisition.
I think you'd probably be ok, but there are no guarantees whatever assurances you get.

lisyloo

Drone31 said:

Schwarzwald said:

your mum wanted to help you with the purchase.
but she doesnt care about any AML and compliance procedures.
if you complete the house, keep the money, that's what your mum wanted to help you with.
if you dont complete the house, return the money.
IMO pretty simple.

You'd think, my issue is if the sols insist the money has been mingled with my own at some point and want the ins and outs I'm probably buggered, even if I could persuade my mum to get a bus pass (no chance) and provide six months of her bank statements it'll probably take things past this ridiculous deadline.

It's very likely I am overthinking it tbh!  I'm just antsy with forking out this money only to be tripped up down the line, but I guess I will just have to lay it out for them.

Maybe I should just say I sold a Rolex on facebook and that's where it's from 

Don't make something up, you could make it worse.
A rolex would have some evidence (they come with unique serial numbers that can be traced).
Plus your statement shows a bank transfer from your mum.
I think odds on you'll be fine for £4K not involved in the sale.
You'd have to get really unlucky for them to pick on yours for a random audit exercise.

but if anything else goes wrong I'd walk away before exchange as the 21 day thing is very onerous.
You may find you have to drop everything regardless of what's going on personally or at work to deal with this due to this stupid deadline.
What if you get ill?
I'd be quite uncomfortable with it. Lots of things could happen in your life (illness for example) that hamper you meeting the deadline.

nicmyles

lisyloo said:

Schwarzwald said:

your mum wanted to help you with the purchase.
but she doesnt care about any AML and compliance procedures.
if you complete the house, keep the money, that's what your mum wanted to help you with.
if you dont complete the house, return the money.
IMO pretty simple.

The issue is being tripped up by anti-money laudering regs and being unable to prove the source of the money fully and that holding things up.
There are no guarantees this won't happen.
What I don't know is it it can definitely be excluded if it's not part of the sale or whether anything on your statements is up for the spanish inquisition.
I think you'd probably be ok, but there are no guarantees whatever assurances you get.

Anything on your statements can be queried.

dannim12345

My brother had this recently, my parents gave him some money when he was buying. He didn’t actually need it for the deposit but there is work to do on the house. My parents had to prove where they got the money to the solicitor and confirm it was a gift.   I think they will query a £4k payment into you account if it’s on the bank statements you provide. 

lisyloo

nicmyles said:

lisyloo said:

Schwarzwald said:

your mum wanted to help you with the purchase.
but she doesnt care about any AML and compliance procedures.
if you complete the house, keep the money, that's what your mum wanted to help you with.
if you dont complete the house, return the money.
IMO pretty simple.

The issue is being tripped up by anti-money laudering regs and being unable to prove the source of the money fully and that holding things up.
There are no guarantees this won't happen.
What I don't know is it it can definitely be excluded if it's not part of the sale or whether anything on your statements is up for the spanish inquisition.
I think you'd probably be ok, but there are no guarantees whatever assurances you get.

Anything on your statements can be queried.

Then this may be an issue for 6-7 months from the gift (until it falls off the 6th statement).

If your mum is adamant she won't help to prove she's not a terrorist or drug dealer then you might want to consider pulling out.
Sadly these rules affect normal people and the real culprits can find ways round them.

Drone31

Thanks for the thoughts everyone, it's very frustrating, and to be honest I am thinking about just sending her the money back so it's not in my account.  Wish I'd realised all of this initially, but if I can't proceed with this I will leave it until the end of the year. 

My mum is a different generation I guess and all of this to her is just faff and unnecessary, just tell them this and that, she's still living in pre stringent regulatory days.  Never held a passport as she's never left the UK, doesn't trust companies with her private info, won't touch online banking in case the "computer" steals all her details, but what can I do