First time buyer money from family abroad (for deposit) AML checks

Tiggy777

Hi all

My daughter and son in law now want to buy their first home together (currently renting)
My son in laws family have offered to help with the deposit or money towards the house (around £70k)
We are obviously aware of anti money laundering issues and want to ensure things don't get held up etc.
Just wondered at this early stage are the AML checks straight forward and how long does it take etc.  I have spoken to a couple of solicitors who seem to give slightly different answers.   I have no doubt they would be able to pass the AML checks such as ID / Bank Statements/Source of funds/ bankruptcy. 
I also have funds available and 'could gift them some money'.
As I understand getting the money into the UK isn't the big issue (might be wrong) it just using it to buy the house ?  Wondering if we are doing it the 'right way around'. 
Just don't want things to get delayed 
In some respects I think if Nigel Farage's 'girlfriend' can do it why shouldn't we. !!!!

I also maybe totally over thinking it, as it might be something solicitors often deal with as part of their normal week and its not such a big deal for them ? (also earns them more fees)
Would appreciate any comments or 'suggestions'

Many thanks for any advice and your time reading this.
Thank you.
Tiggy

Uriziel

Transferring money into the UK is not a problem at all, most of the time, depending on where you are moving the money in from. If it is a dodgy country obviously it will raise flags. You are not stating which country this is from.
Transferring money from abroad does not somehow exclude you from AML checks. You cannot just tell them it's from abroad and be done with it. You will need to provide the same amount of backup. They will need to declare how they have received the money and probably also back this up with bank statements.

Tiggy777

Hi Uriziel... thank you for your speedy comment.  My understand is the country isn't on the dodgy list.  I could pass the AML checks myself as I have just retired and have my pension lump sum.  It's just they have offered and they want to help as we have supported them both heavily (with rent/cars etc) in the past.

Uriziel

If you can very easily provide bank statements I would say it is better for you to provide the deposit and let the guy's parents just send them the money for them to use it for purchases and decoration of their home. Banks can still ask where money comes from inside a bank account but that is just random and very rare. Even if the parents can technically provide the documents it would lengthen the process and stress them out unnecessarily.

user1977

Perfectly normal for the "Bank of Mum & Dad" to be providing funds, and commonplace for mum/dad/gran to be overseas, so none of this is particularly troublesome assuming there's a paper trail for the funds and it's not coming from cash under somebody's mattress.