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ukfamilysolicitor, Solicitor
Category: Law
Satisfied Customers: 854
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
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Ive just payed off my mortgage transfered the lump some from

Resolved Question:

Ive just payed off my mortgage transfered the lump some from my personal bank account to the firm in charge of my mortgage account there isn't any balance left outstanding recieved a letter this sat they are in the process of realeasing the charge over my property but they are asking for evidence of the source I used to pay my mortgage with why?
Submitted: 1 year ago.
Category: Law
Expert:  ukfamilysolicitor replied 1 year ago.
The reason that they will be asking this is to satisfy that money laundering hasn't taken place.
Solicitors have previously been easy targets for laundering the proceeds of crime - especially through property transactions.
The solicitors will ask details in the source to satisfy that the money have used is from a genuine source.
I am however surprised that they are only asking you this now, being after the transaction has occurred, rather than asking for the information from the beginning of your instructions, perhaps they forgot to ask initially.
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