How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask ukfamilysolicitor Your Own Question
ukfamilysolicitor
ukfamilysolicitor, Solicitor
Category: Law
Satisfied Customers: 854
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
74916426
Type Your Law Question Here...
ukfamilysolicitor is online now

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.
Hello
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.
Kind Regards
Caroline
Please kindly remember to rate positively. No credit is received for our work unless positive feedback is received.
ukfamilysolicitor and 2 other Law Specialists are ready to help you