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

Angelica123

I think you are overthinking this. AML checks are unlikely to be the rate limiting step in a purchase. Money coming from abroad is a common phenomenon - the only issue you need to consider is not to leave it to last minute to have the money transferred over as when it comes to exchange, the solicitors can't exchange without the deposit money in their bank accounts. 

user1977

Tiggy777 said:

I appreciate the checks...my last question was more relating to the limits and check as to what could be transferred from abroad into the uk.

No limits, vast amounts of money (legitimately) come into the UK every day from overseas for property purchases.

The other country might have restrictions on what you can send out though.

Chief_of_Staffy

Uriziel said:

Chief_of_Staffy said:

I told my Estate Agent and solicitor under no circumstances would I allow a selection of third party companies to harvest my data (like all these companies Credas pass on your data to dozens of other private companies). Funnily enough, the EA then managed to do their checks in 5 minutes on the basis of two statements, and my solicitor in a couple of hours on receipt of a few more. Paying for these digital checks is an absolute racket.

How much was your deposit?

It was the full balance, I'm not paying a deposit. Chunky probably best describes it. I actually paid it in-branch this morning and the first thing the lady asked me was, "Have you got the app?" Of course that was the bank's app, not a third party one, but I said no, I refuse to use apps for anything of importance. To her and the bank's credit it was an efficient process; arrived at the bank mid morning and the money was with my solicitor 40 minutes later.