Source of funds checks – how far back do they go?

roarrory33

I’m trying to understand what’s typically expected when solicitors check the source of funds for a property purchase.

How far back do they usually look at bank history, especially for larger deposits?

Also, are digital bank records (like transaction data from banking apps) generally accepted, or do firms still prefer traditional statements?

Just looking to understand what’s normal so I can be prepared.

HouseMartin567

I think it totally varies by solicitor. I was only asked for six months of statements - there were no questions asking how full premium bond holding had been accumulated. However, I’ve seen on here stories of solicitors digging really deep, e.g. wanting proof of a 10-year old inheritance. So I don’t think you will know until your solicitor asks, but best to get as much in order as you can.

ACG

Transaction lists cant be used.

They are usually missing important information.

It sort of depends on your deposit for what they will want. If it has all hit your account in one lump sum (a bonus or inheritance for example) they might just want a statement from that time. If it has been built up gradually, they might want statements going back over a period of time.

The AML rules we have are not definitive, otherwise it would be easy for people to play the system.