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  • FIRST POST
    • Dop1200
    • By Dop1200 4th Dec 19, 10:55 PM
    • 1Posts
    • 0Thanks
    Dop1200
    URGENT - Mortgage Application - Baby sitting money considered money laundering?
    • #1
    • 4th Dec 19, 10:55 PM
    URGENT - Mortgage Application - Baby sitting money considered money laundering? 4th Dec 19 at 10:55 PM
    Hi

    My partner and I are currently in the process of buying our first home and we are submitting our bank statements to the Solictor this weekend. The solcitor advised they check for anything that appears to be money laundering etc.

    We both work full time and have correctly declared our income for our employment.

    However, my partner just this weekend did some baby sitting for two people both parents paid via bank transfer to the total of 100. These were both a one off baby sitting. My question is will this affect our Mortgage application as these now show on the bank statement, and do we need to register her as self employed to declare this as taxable income as she already has a job and pays tax.

    Appreciate a response ASAP. Many thanks in advance.
Page 1
    • lewis_hardwick
    • By lewis_hardwick 4th Dec 19, 11:00 PM
    • 11 Posts
    • 15 Thanks
    lewis_hardwick
    • #2
    • 4th Dec 19, 11:00 PM
    • #2
    • 4th Dec 19, 11:00 PM
    I doubt they'd even query it.
    • D.L
    • By D.L 4th Dec 19, 11:17 PM
    • 12 Posts
    • 12 Thanks
    D.L
    • #3
    • 4th Dec 19, 11:17 PM
    • #3
    • 4th Dec 19, 11:17 PM
    Not a chance.
    • JMA74
    • By JMA74 4th Dec 19, 11:22 PM
    • 989 Posts
    • 718 Thanks
    JMA74
    • #4
    • 4th Dec 19, 11:22 PM
    • #4
    • 4th Dec 19, 11:22 PM
    The title of the post was a lot more interesting than the actual question.

    It won't even come up. My mate transferred me money for lunch the other day. We aren't laundering money.

    If there was a 5k deposit from a random unconnected person then expect questions. Not for thud though
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • ACG
    • By ACG 5th Dec 19, 8:48 AM
    • 19,722 Posts
    • 11,257 Thanks
    ACG
    • #5
    • 5th Dec 19, 8:48 AM
    • #5
    • 5th Dec 19, 8:48 AM
    The title of the post was a lot more interesting than the actual question.
    Originally posted by JMA74
    Yup.


    It is not money laundering, people dont launder 100.
    I wonder if it is a form of tax evasion if not declared? I am not sure where it would fall. In any event, that would not need to be declared until after April next year anyway.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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