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Money laundering checks - panicking!

(8 Posts)
Crutchlow35 Sun 23-Mar-14 08:27:42

Sorry to say but if you are in Scotland the yes, it may case problems. We money launder and have a 6 month paper trail on all monies so that would be your deposit and your parents.

The only way £1700 wouldn't be looked at in Scotland is if you are leaving that amount, or more in the account and not using it for the house purchase.

ReginaldBlinker Wed 19-Mar-14 11:53:44

Good luck with the house buying likeaboss. Hope the rest of it goes smoothly x

likeaboss Tue 18-Mar-14 20:24:24

Message withdrawn at poster's request.

Vatta Tue 18-Mar-14 18:23:27

I'm a lawyer, and honestly we would never dream of looking at your bank statements or analysing your expenditure like that!

I just want to know that the money comes from uk bank accounts. If so I just accept that it's your money and that the bank has done their due diligence on any weird payments.

Have been doing this for ten years now and have literally NEVER reviewed a bank statement!

racmun Tue 18-Mar-14 18:12:54

As a solicitor (I am one) you don't go through people's bank statement scrutinising their statements. We have to make sure the money is coming from a reputable source, which if its in a uk high street bank is deemed to be a reputable source.

It would be for the bank carrying out their anti money laundering checks to scrutinise where the money came from when you paid it in. Assuming you haven't literally paid it in today and try to pay it out tomorrow I really wouldn't worry.

Please stop panicking

likeaboss Tue 18-Mar-14 18:07:04

Message withdrawn at poster's request.

ReginaldBlinker Tue 18-Mar-14 16:05:10

We just bought a flat recently, so went through this, but obviously weren't in the same situation as you. I don't think you'll have much to worry about though. In the scheme of things, £1,700 isn't a huge amount (not to downplay your savings at all, that's fantastic that you've saved that much! Just mean that when compared with the cost of buying a house, it won't seem like much.)

They'll look at your salary and your expenditures, and they'll see that it's reasonable that you've stashed away £20 here and there, and that it all adds up. If you had hundreds of thousands, and earned £17K a year, they might get a bit funny, but I'm sure this will be fine.

likeaboss Tue 18-Mar-14 15:57:28

Message withdrawn at poster's request.

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