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Original poster

Is this normal behaviour from a solicitor? Re: gifting money for a house deposit for DD

6 replies

FrenchandSaunders · 10/10/2024 12:34

We've given our DD £20K to put towards a deposit on her first flat with her boyfriend. Their solicitor has taken months to get things organised - a letter from us stating it is a gift etc, I get that.

Then they were back and forth asking for bank statements as evidence of the money leaving one account and being paid into hers etc. We did all that. They wanted to know where we got the money from .... it came from an inheritance, I wish I hadn't told them that now. Should have just said savings.

This has been going on since April ... they've emailed today asking for a copy of the death certificate and the will. Surely this is none of their business?

I understand the money laundering side of things and they need to do certain checks but is this too far?

To add insult to injury the solicitor emailed DDs boyfriend querying certain deposits on our bank statements ... surely that's a breach of our privacy and GDPR.

OP posts:

Borntobeamum · 10/10/2024 13:19

This is quite usual.
An acquaintance gifted 40k to their son from an inheritance. Unfortunately what had actually happened was grandad went into a care home due to dementia. The family sold the house and shared out the money from the sale, oblivious to the fact their dad was still alive, and needed the cash for care home fees.
It took months and months for it to be sorted out.

mynameiscalypso · 10/10/2024 13:20

They are doing the right thing - they have to understand the ultimate source of the money

FunnysInLaJardin · 10/10/2024 13:23

The source of funds stuff is usual and we do this for all of our purchases.

However we would ask for a copy of the probate and a letter from the solicitor who dealt with the estate verifying the source of the fund plus a bank statement showing the funds coming into your account.

The months it has taken to sort it out is a bit rubbish though, we would do this at the start of the matter and should only take a few days.

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General money Legal issues

elizzza · 10/10/2024 13:24

Totally normal - they have a legal obligation to investigate the source of funds. There’s more detail here in the Source of Funds section:
https://www.sra.org.uk/solicitors/resources/money-laundering/aml-questions-answers/

On asking your DD’s boyfriend questions - their clients are your DD and her boyfriend, not you. Anything you’ve disclosed forms part of their file for their client and they can discuss it with their client.

Compliance with the regulations and preventing money laundering Q&A

Answers to a number of common questions about preventing money laundering and compliance with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ('the regulations').

https://www.sra.org.uk/solicitors/resources/money-laundering/aml-questions-answers

Comefromaway · 10/10/2024 13:24

Yes, it is entirely normal. My parents gifted me a deposit which came from the profits of their business and they had to provide a copy of the company accounts.

Mildmanneredmum · 10/10/2024 13:57

I did all this for my DD's house purchase. I had to prove exactly where the money came from, and hoe it came to me. I had to provide bank statements and proof of my house sale. I had to go and swear at a lawyer's office that I was who I said it was!

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