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JGM
JGM, Solicitor
Category: Property Law
Satisfied Customers: 11132
Experience:  30 years experience in property law.
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We are buying a new build house in Scotland using Help to Buy. The

Resolved Question:

We are buying a new build house in Scotland using Help to Buy.

The solicitor said they will need evidence of the source of any money for the deposit.

Is it OK to say that the money is a gift from my parents? Or will that make us look bad (like we couldn't save the money ourselves)?
Submitted: 3 years ago.
Category: Property Law
Expert:  JGM replied 3 years ago.
No, the solicitors just have to know where the money came from for audit purposes under the Law Society Money Laundering Regulations. The solicitor has to know that the money did not come from the proceeds of crime. So of course it's OK that your parents gifted you the money. You just have to give your solicitor evidence that that is the case. Don't worry about this. It's just regulation.

Enjoy your new home.
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