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yes I know that much the infamous AML, but the 6 month rule isn't mentioned anywhere else other than this form. Everybody we paid or talked to (who're supposed to get nice referral fees from each other) was behaving like it doesn't exist and for instance it's ok to "up the deposit by the time of the exchange". In what world it would be ok if anything needs to be stood in the accounts for 6 months minimum?
disq-
Each conveyancing firm has their own guidelines I imagine. Some likely to be more firm than others, depending on how recently they have been audited or had a slap on the wrist.
When buying our first flat, my Dad gave me £5k. When the solicitor asked where that came from, I follishly followed my mortgage advisors advice and said it was my Dad repaying a loan to me. Then then tore apart his bank details asking why he had borrowed £5k when he had more money than me. But that nearly held up the whole thing.
I can't imagine it's a hard rule though so long as you can show that you came about having the money legitimately in the last 6 months. If it's a hard rule, then you might have to go elsewhere.
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In what world it would be ok if anything needs to be stood in the accounts for 6 months minimum
Sure, but to flip it around - who can acquire a house deposit from scratch in <6 months? For most it'll be the product of years of saving or easily tracked from a property sale...
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It sounds like a shit rule as well. The money being "old" isn't any proof of where it was from.
stevo_com
NickCJ
aggi
Anti-money laundering