Solicitors who deal with property transactions are at particular risk of being used by people to try to launder money – where criminals try to hide the proceeds of their crime.
Therefore if we are acting for you in a purchase transaction, we will need to be satisfied as to the source of the money that you intend to use to fund your purchase of the property. If you have inherited money from a relative, you could show us a copy of the estate accounts showing the sum you received or provide a copy of the bank statement showing where you deposited the money. If these are savings then a bank statement should suffice to confirm this.
We will also carry out due diligence to confirm your identity so will also ask you to provide photographic ID such as a passport or driving licence and also ID to confirm your address such as a recent utility bill or bank statement.