We require detailed information about your funds to comply with UK anti-money laundering (AML) regulations. These regulations are in place to prevent the use of illegal funds in property transactions. As part of our legal obligations, we must verify that the money used to purchase the property comes from legitimate sources.
To meet these requirements, we typically ask for the following documents:
Bank Statements – Recent statements showing the funds available for the purchase, usually covering the last 3-6 months.
Evidence of Savings or Investments – If the funds are coming from savings, investments, or the sale of another property, documentation proving this source (e.g., savings account statements, investment portfolio statements, or completion statements from the sale of property).
Gift Letters – If any part of the funds is a gift from family or friends, a formal gift letter confirming that the money is a gift and not a loan. We will also require their identification.
Mortgage Offer – If you are using a mortgage, the official mortgage offer from your lender.
Additional documentation may be required depending on the source of your funds. This process is standard for all property transactions in the UK, and providing this information upfront helps to avoid delays in the conveyancing process.