Proof of funds

[Mybloodycat]

I got a lump sum in my divorce which will allow me to buy a property outright.
I obviously have my Court Order detailing how much was to be paid and when, so I can show I have the funds.
However, the funds are now spread all over the place as it’s a lot of money to have in one account, with lots of transfers to better interest rates etc.

When I buy, will my Financial order be enough to prove this, and obviously I can show the funds going into my account, or am I going to have to get statements for every single account it is in? All the money went out of my main account, so it’s not like it all just disappeared.

I imagine you will have to show all the accounts, as the court order doesn’t prove you haven’t spent it since then

I'd say all the accounts that it is currently in too, we had to provide a lot of paperwork last time we bought a house.

Eurgh. I was hoping not to have to do all that. It all went into my main account and it’s all shown going out to other accounts.
I knew it wouldn’t be simple

It is a bit of a pain, but it's to do with money laundering regs - I changed where a bit of our deposit was coming from quite late on which meant digging out even more paperwork, ours came from at least three different sources/accounts. Your solicitor/conveyancer will let you know what you need to provide.

Good luck with the purchase when it happens, OP.

Good luck OP. I’m happy you got your lump sum and can move on to a new start.

Yes you have to evidence the transfer of the monies so they can see where the funds originated and where they've been in between.

We bought with the help of an inheritance last year. We had to show a) that we inherited the money b) the account it was paid into and by whom - so the solicitors letter detailing the amount and how it would be paid. c) how we transfer oThe money from that current account and into which interest account it went into - multiples of them as we spread the amount into topping up isas/premium bonds/savings accounts as it was awhile until we found the right house and then the time taken to actually buy it.
so a little time consuming paperwork wise, but not more than the time taken to drink a mug of tea whilst downloading various statements. Good luck and enjoy your new start!