• Cash Purchase Proof Of Funds

    By Guest on 22nd Feb 2020

    I’m planning to buy a property with cash. Most of the money is from my own savings, and a portion will be a loan from a relative. What proof do I need to supply that my funds are legitimate?

  • 1 Answers

    By NotaryExpress on 23/02/2020

    Is this proof for the estate agency, mortgage adviser or conveyancer? You will often need to provide evidence for all 3 (though with a cash purchase there will not of course be a mortgage adviser involved).

    Assuming you mean for the conveyancer, and as a conveyancer, I can confirm that what you are required to supply depends on the firm's policies, following Law Society guidelines. For example, we would generally ask for bank statements for the accounts funds are coming from, evidence of how the savings have accrued (e.g. wage slips), ID documents from the relative to identify them and the same evidence from them plus a copy of the loan agreement if any.

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