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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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:
SocksAndTheCity · 31/05/2024 19:15

I don't think the OP means she wants to bring a suitcase full of banknotes to buy a house with, @swallowedAfly . 'Cash buyer' just means somebody who doesn't need to take out a mortgage Smile

Namechanges85437854 · 31/05/2024 20:38

When we bought (a few years ago now) we had to show 3 months worth of bank statements, to prove we weren't money laundering. There were no question about where the money had come from, and most of it was sitting in the account before the 3 months period, so there was no record of how I got it originally.

swallowedAfly · 31/05/2024 21:05

SocksAndTheCity · 31/05/2024 19:15

I don't think the OP means she wants to bring a suitcase full of banknotes to buy a house with, @swallowedAfly . 'Cash buyer' just means somebody who doesn't need to take out a mortgage Smile

I understood her to mean that she has money in the bank plus about 30k in cash. The issue then would be how to get that money into a bank to be recognised as legitimate. I didn't think she was turning up at an estate agents with a suitcase full of £50 notes.

She specifically says about £30k and says she wants to buy a house outright - 30k wouldn't buy you a shed in the UK these days so I presumed the 30K was referring to the amount she has in cash and that she doesn't know how to get into the financial system given the kinds of questions etc that this would give rise to.

I could be wrong obviously

Brumhilda · 31/05/2024 21:13

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.

Do you have accounts showing the income, and showing that the tax has been paid on it?

it doesn’t matter of it ‘clashes’ with your 9-5, they don’t know you have other self employed income, so you can declare it to HMRC and pay tax etc.

did you?

Valeriekat · 31/05/2024 22:43

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.

I am afraid that you are going to have to. Money laundering regs are ridiculously tight.
They work for you remember!

uhOhOP · 31/05/2024 22:51

swallowedAfly · 31/05/2024 21:05

I understood her to mean that she has money in the bank plus about 30k in cash. The issue then would be how to get that money into a bank to be recognised as legitimate. I didn't think she was turning up at an estate agents with a suitcase full of £50 notes.

She specifically says about £30k and says she wants to buy a house outright - 30k wouldn't buy you a shed in the UK these days so I presumed the 30K was referring to the amount she has in cash and that she doesn't know how to get into the financial system given the kinds of questions etc that this would give rise to.

I could be wrong obviously

Show quote history

£300,000, not £30,000.

And the money is already in the bank, presumably. OP does work online, so probably isn't receiving envelopes of cash in the mail. She gets paid electronically.

Grumpynan · 31/05/2024 22:59

The solicitor will want to see you have the cash in your account, I just printed off the part of the statement showing the final balance so long as your name and all your details are showing that’s all they need, you then send the money to them just before completing

Fatotter · 31/05/2024 23:07

Just say you are a content creator. Presumably you run a business and pay tax on your sex earnings. No need to go into anymore details.

Unexpectedlysinglemum · 31/05/2024 23:29

Why do you have to say sex work! Why not online modelling? Or you make it from your social media account? Etc

swallowedAfly · 01/06/2024 21:38

Ah. Thanks UhOhOP. I did ask a while back how are you getting cash if working online.

Totally misunderstood and stand corrected.

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