Cash deposit no solicitor will help

Big_dog

Hi guy's. We have a cash deposit made up of the following and we're up against solicitors who are refusing to act for us and I need someone who can finish off the mortgage.
A few years ago we sold our business and invested some of the proceeds in to gold bullion ( full audit available) and kept a small cash fund £6k in our home safe. We can prove where the money has come from and now we've sold the gold through a registered UK dealership, all of the funds for the deposit are in my bank account.
We have been accepted for the mortgage by NatWest, but our solicitor has backed out of the mortgage because they aren't happy with the deposit.
Can anyone suggest solicitors who will deal with this as we do have a full money trail that is acceptable for anti  money laundering?

grumpy_codger

Just go to your local solicitors and explain all this upfront. My recent solicitor wanted only 3 months worth of savings accounts statements for about £300K deposit.

"solicitor has backed out of the mortgage" - what does this mean?

Big_dog

Well, we started the mortgage with Land C and they arranged the solicitor with them. We are at the legal document stage and they pulled out telling us that they won't deal with cash deposit, even though we have a complete audit from it's origin ( solicitors documents from the sale of our company)
We're stuck and only have a few weeks for completion or we loose the house.

Grumpy_chap

Big_dog said:

We're stuck and only have a few weeks for completion or we loose the house.

Have you Exchanged?
Unable to complete over issues around the deposit is a far bigger issue if you have Exchanged.  
If you are yet to Exchange, anything could happen anywhere to derail progress.

What is the time pressure that would risk the house being unavailable to purchase?

Hoenir

Big_dog said:

but our solicitor has backed out of the mortgage because they aren't happy with the deposit.

What is the issue with the documentary evidence you have provided ?  

Big_dog

Well, it's a right to buy. We are at the offer has been accepted by the landlord and NatWest has also offered a mortgage and set a percentage. All of the ID and bank statements have been verified. Under the right to buy we have ,20 weeks to complete and we are about 10 weeks in at the moment.
The evidence supplied as of the origin is an invoice and sale document from the solicitors who sold our business 4 years ago, and bank details of the business account of the business that the money was deposited in to. We have also a full trial of the gold investments from bank to dealer and back again.
It seems that the £6k that we took out of the account and aced in our home safe is the issue here.

Voyager2002

Big_dog said:

Well, it's a right to buy. We are at the offer has been accepted by the landlord and NatWest has also offered a mortgage and set a percentage. All of the ID and bank statements have been verified. Under the right to buy we have ,20 weeks to complete and we are about 10 weeks in at the moment.
The evidence supplied as of the origin is an invoice and sale document from the solicitors who sold our business 4 years ago, and bank details of the business account of the business that the money was deposited in to. We have also a full trial of the gold investments from bank to dealer and back again.
It seems that the £6k that we took out of the account and aced in our home safe is the issue here.

Can you jiggle the finances around so that the £6k is no longer involved?

retiredbanker1

Do the Lenders not offer legal services?

EssexHebridean

retiredbanker1 said:

Do the Lenders not offer legal services?

It would usually be done through a panel solicitor- and that sounds like the issue here, that the panel solicitor have said they’re not happy with the “trail” for the funds. 

35har1old

retiredbanker1 said:

Do the Lenders not offer legal services?

They usally require a solicitor to act on there behalf 

Big_dog

Hi guy's, firstly I really appreciate all of the replies and help... Thank you.
Not including the £6k will make a significant impact on the monthly repayments on the mortgage as we can only take out 15 years.
Yes, the panel solicitor is the issue here and they are O'Niel Patient. For whatever reason they have simply refused to deal with the deposit, not even to check the trail... it was point blank no!
So I need to find a solicitor that will look at the trail and see that I can prove the origin of the deposit and go forward with the mortgage.