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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11150
Experience:  30 years as a practising solicitor.
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I have found a piece of property Id like to purchase in Edinburgh.

Resolved Question:

I have found a piece of property I'd like to purchase in Edinburgh. I have a three year visa due to a PhD program I'm working on at the University.
I'm willing to pay cash for the property that is currently in a U.S. account.
Should this be a problem?
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

It's the source of funds that is important, not necessarily where they came from. If the account is the US is in your name and you transfer it to a UK account to but the property, your lawyer will need to see the US bank statements too and will also need to know where you got the money from.

The lawyer may have a policy of seeing he money in a uK bank account for three months but this is not absolutely necessary if a legitimate source of funds can be identified.

I hope this helps. Please leave a positive response so that I am credited for my time.
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