- Also in this section:
To comply with the requirements of the Anti-Money Laundering Regulations, we are required by law to obtain evidence as to the source of funds you intend to use to purchase property. It is mandatory for us to ensure that funds used in a transaction are from an appropriate source. To do this we must verify, with evidence, that the source of wealth has been derived through legitimate interests. If you do not provide evidence we cannot proceed with your transaction and you will be charged for any work carried out.
For evidence of Source of Funds we will require the following:
- Bank Account: Account number; sort code; name on account. Transfer type (BACS, CHAPS, etc.). Details of exactly where the source of wealth has derived with supporting evidence.
- Multiple Bank Accounts / Building society Accounts / Savings Accounts: As per ‘Bank Account’ with separate information for each account.
- Gift from Relative / Friend: Identification from the individual(s) providing the gift. Evidence of funds being transferred from gift person(s) account to your account. Letter from person(s) providing the gift to confirm that the funds are indeed a ‘gift’.
- Inheritance: Evidence, such as a confirmation letter from solicitors acting on behalf of the Executors and a bank statement noting the transfer of funds from the solicitor’s to an account in your name.
At the appropriate time during your transaction, you will be provided with details of exactly what we will require from you to ensure compliance.