Verification of Funds
Verification of client funds can be a time consuming and frustrating process. Clients often supply the incorrect or inadequate documentation to prove their funds have been acquired legally.
Our system guides every client through the required proof of funds documents based on the source of their funds.
Sample Client: Sarah Jones
Sarah is purchasing a property with a deposit of £60,000.
The deposit comes from:
1. Savings and
2. Part gifted from Sarah’s father.
Sarah will be asked how much of her deposit is from her savings and how much is gifted from her father.
£15,000 savings £45,000 gift
Sarah will be asked to upload bank statements showing accumulation of £15,000. Sarah will be asked to upload her father’s bank statements showing accumulation of £45,000.
Sample Client: Paul Harvey
Paul is purchasing a property and the deposit is from the sale of his current home.
Paul will be asked if the sale of the property is complete and if it is the same solicitor as that dealing with his new purchase. If it is Paul has nothing further to do. If it is a different solicitor Paul will need to upload bank statements proving the funds are available as well as solicitor’s letter/stement confirming they acted on this transaction