solicitor compliance as a cash buyer

SDLT_Geek

tiger135 said:

i am tempted to just pull the plug , get all my statements in order and look again in a couple of months 

I remember a series of your previous posts explaining that you are living at home with parents and you were agonising over whether to buy a property of your own.  You set yourself deadlines and took a long time to take the plunge.  You had the money for the purchase and did not need a mortgage.

I wonder whether you are, subconsciously perhaps, still not confident enough to make that move away?  You do not need your parents' approval to do that.  If the property is right for you, get on with it!

tiger135

so ive realised the money has gone to another savings account so i am going to be asked for that statement by the solicitor. thats another 3 weeks wait and i could need more after that one.

LHW99

Do you have no records of what you did with the money? - most accounts give you online access these days. You could download statements to help you track where the cash has been moved to / from, then request the statements you need in one go (if you can't use the ones you have printed).

alanyau88

If your management, online banking, and common sense skills is lacking, then I would advise you to withdraw your purchase as you're clearly not ready.

user1977

LHW99 said:

most accounts give you online access these days.

Yes, but generally not after you've closed them.

EssexHebridean

user1977 said:

LHW99 said:

most accounts give you online access these days.

Yes, but generally not after you've closed them.

Nationwide, oddly enough, does give you access to statements from closed accounts. I can’t recall the details, but found out about it after we’d switched an account away from them which I subsequently needed to check some transaction details on. 

Hoenir

user1977 said:

LHW99 said:

most accounts give you online access these days.

Yes, but generally not after you've closed them.

For tax purposes it makes sense to retain records for 6 years. Not as if proving the source of funds is actually a recent requirement. Just been tightened up. Always been instances where indepth enquiries are made. You never know who is being truthfull or lying. 

tiger135

nationwide online lets you see closed current accounts. thats via a separate login. savings no. 

cherry76

Did not have any issues with NW when I requested bank statements. Most of my savings were with NW, Yorkshire BS and Skipton. Statements were given to the solicitor's who wanted source of funds. Most of the funds were accumulations of money my parents have saved in my account for years.

tiger135

they were insisting on a complete trail of funds which would require at least two more statements by post, but they now seem to be happy with whst i have given them. which suggests it isnt so important after all???