Buying in Edinburgh with money from abroad

[Rebelwithverysharpclaws]

Hello,
My son in law's Hong Kong Parents have gifted him some cash to buy a home. He and DC are hoping to buy in Edinburgh. They can't find a Solicitor to represent them as none are willing or able to put the time in to verify the source of the Hong Kong gift. The Edinburgh Solicitors we have approached say they don't have the facilities to do this. The global Solicitors say they only work with Corporate clients. Any advice gratefully received.

I have NC because possibly outing.

We debated buying in Edinburgh a whole back, and my DH works abroad and therefore has foreign bank accounts. Money coming from abroad was no problem at all, we showed all the necessary documents, and the solicitor would have been fine acting for us with what we showed.

I would have thought the solicitor might have asked for proof of transfer, maybe some documents from the Hong Kong parents like I'd and bank statements to prove where their gift money has come from. Otherwise, if your son in law has had the money in his own account for more than 6 months it should not be a problem, that can be proved by bank statements....

Hopefully someone will come along with more knowledge than me, but it doesn't sound like the problem is insurmountable at all, just getting hold of the right docs to show that everything is above board. Good luck to them, I hope they find someone who can help them find the way!

Thank you @Talktome123. We keep falling at the first hurdle. Rejections by four Edinburgh solicitors so far and three Global. The problem should not be insurmountable if it is just a question of showing them the right bits of paper.

If your DD uses facebook get her to join EGG - Edinburgh Gossip Girls (if she's not already on it). There's a number of property solicitors on there and people who've moved from overseas so someone might be able to advise.
Stupid question alert: can they not move the money into a UK account??

@emmathedilemma. Thanks for that info, sounds like a good site. The money is in a UK account but we need to prove where it came from so they know we are not money launderers.

[quote Rebelwithverysharpclaws]@emmathedilemma. Thanks for that info, sounds like a good site. The money is in a UK account but we need to prove where it came from so they know we are not money launderers.[/quote]
I think solicitors are turning you away because they dont want the hassle in this busy market.

ah ok, is there anything the bank could provide so it's done upfront of dealing with solicitors? I've sadly never been in such a privileged position but what do cash buyers normally do to prove they aren't money laundering?

@flashbac. I think you may be right - the property market in Edinburgh is hot as hell.
@emmathedilemma. We are gathering the paperwork. We have never bought with cash before either. You would think it would be straight forward but I think the law around money laundering has been tightened so that anyone involved can be liable to prosecution, so the Solicitors are wary, especially when they have plenty of normal clients.

I'm a solicitor and used to work in Edinburgh (albeit a number of years ago) - might be worth trying a firm like Turcan Connell or Anderson Strathern with a large private wealth team as well as a residential property team. My sense is that they should have the systems in place to be able to handle the slightly more complex financial position more comfortably than a smaller high street firm, although it'll no doubt cost a bit more.

Thank you @queenatom. I will give them both a try.

@Rebelwithverysharpclaws I think you will be fine, I would look to get the in law's If documents, and then statements that prove they have it on account in HK for 6 months or more. We were going to be cash buyers too with money on account abroad, there was no bother whatsoever - although it was in our name so perhaps a bit easier. I second the suggestion of going onto the Facebook group for a recommendation. Property market in Edinburgh always seems to be hot!

@Rebelwithverysharpclaws if we had bought in Edinburgh we would've used Anderson Stathern as @queenatom suggested. They seemed very efficient and knowledgeable at that time so definitely worth a try!

Thank you @queenatom and @Talktome123
Anderson Strathern have given us a first positive response.
Good ole Mumsnet.

@queenatom and @Talktome123
Thank you so much for taking the time to help me. Anderson Strathern have proved to be brilliant solicitors and my DC has had an offer accepted on a flat in Morningside today. It is so generous of you to help a stranger and I will be sure to pass that kindness on in some way.

Happy to help, @Rebelwithverysharpclaws, glad they've managed to get things sorted!

@Rebelwithverysharpclaws you're very welcome, that is amazing news. I'm so glad they have managed to get the admin sorted and find a lovely flat. I wish them many happy years in their new home in Morningside!

What a great update! Good luck to the new home owners and hope the process goes smoothly.