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AIBU?

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Original poster

Buying a house cash

60 replies

Sarah2407 · 24/03/2024 04:41

Right so I know I will get a lot of negative hate comments for this to which I will ignore.
But I wanted to get some advice. Would I be able to buy a house cash (no mortgage) outright without having to explain where I recieved all my money from?

I do some sex work online and have made a significant amount. Not sure what to do with it so seems like the best thing would be to invest it into a property (max £300,000) I also have a full time job that I could show worth (£50,000) but that would not be enough for a mortgage anyway.

Please don't bother with the negative comments I honestly will not respond. Yes I do some wrong things online but hey who's perfect

OP posts:
Footyfandango · 24/03/2024 05:29

@Sarah2407 oh don't let that put you off. I am fairly sure your solicitor has to keep your info confidential unless you were doing illegal things like money laundering. So no one else would ever be told, as no mortgage lenders involved

PickledPurplePickle · 24/03/2024 05:12

As long as you have tax returns to back it up it should be ok

Nickynicholson · 24/03/2024 05:04

Do you have a Russian passport? If so you might have a problem

Original poster
Sarah2407 · 24/03/2024 05:02

Sex work is defo legal but it really does clash with my actual job. I just really didn't want to disclose that to the solicitors etc but seems like I may have to. I am looking to buy a house not that I would even move it but I'd rather put the money to use and get some rent.

OP posts:
Footyfandango · 24/03/2024 04:56

100% hate free here
You do need to prove you are able to buy the property be it cash or mortgage.
In addition there is anti money laundering legislation that means checks.
But if your sex work is legal, and please don't think I am making assumptions here as I am absolutely not, just trying to answer as helpfully as I can... then you have no barrier to purchasing a property as you can prove your money is not for terrorism, guns and organised crime etc
Good luck and I think you are wise to put your earnings into property, good investment.
You looking at flats or a house, just being nosey

Original poster
Sarah2407 · 24/03/2024 04:54

Oh okay sounds good. Iv read alot online how solicitors want to see bank statements etc and I dont know how i will explain half of the payemnts that goes into my main account. I have other accounts that my actual work salary goes into but thats not enough. I do pay my taxes etc but quiet frankly don't want to disclose to the solicitors etc on how I obtained the amount.

OP posts:
DumpedByText · 24/03/2024 04:52

I bought a house outright with cash. No one questioned me, I just transferred the money on the day. It was a new build though, I think you might have to show you have the funds but I doubt they'll ask where they're from. Good luck!

mjf981 · 24/03/2024 04:50

Nothing wrong with it. You earned it, you're free to spend it.

Just make sure you've paid the tax you should've paid on the income though, prior to using it all for the house..

PeopleAreWeird · 24/03/2024 04:46

Who said they are ‘Wrong’

You do you OP

Good luck