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leanne-jones
leanne-jones, Barrister
Category: Property Law
Satisfied Customers: 183
Experience:  Barrister
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I AM IN THE PROCESS ON BUYING MY PROPERTY.BUT MY SOLICITOR

Resolved Question:

I AM IN THE PROCESS ON BUYING MY PROPERTY.BUT MY SOLICITOR REQUIRES
INFORMATION ON THE MONEY I HAVE IN MY BANK ACCOUNT TO PAY FOR THE PROPERTY.I CAN NOT REMEMBER THE PREVIOUS SOLICITOR DUE TO IT BEING
TWELVE YEARS AGO WHEN I SOLD MY LAST PROPERTY ALSO AM TOLD MY BANK DOES NOT HAVE RECORDS OVER SEVEN YEARS ON ANY TRANACTIONS.
Submitted: 4 years ago.
Category: Property Law
Expert:  leanne-jones replied 4 years ago.

leanne-jones :

Hello - my name is XXXXX XXXXX it will be my pleasure to assist you today.

leanne-jones :

Yes, this is a new rule because of money laundering

leanne-jones :

Your Solicitor must be satisfied as to the source of the funds under Money Laundering Act 2002

leanne-jones :

However, you can request details from your bank under the Data Protection Act and ask for copy statements going back all those years

leanne-jones :

They have to keep records for a reasonable time. This is normally 6 years but in my experience banks keep them for far longer.

leanne-jones :

The cost would be £10 to request copy statements under the Act

Customer:

THE BANK COULD HAVE THIS INFORMATION ON ALL TRANSACTIONS INCLUDING THE SOLICITORS

leanne-jones :

The Solicitors may not necessarily, but the bank should

leanne-jones :

Does this answer your question?

Customer:

I ONLY NEED TO GET RECORDS FROM THE BANK

leanne-jones :

Yes, if you had a large sum in the account

leanne-jones :

It will show where the £ came from.

leanne-jones :

But your old Solicitors may have something in archive or confirm they acted for you

Customer:

THANKS I WILL GO TO MY BRANCH. BYE

leanne-jones :

Welcome. Please remember to give my answer a great rating and have a good weekend

leanne-jones :

If you need any further help let me know

Customer:

OK

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