Our in-app Source of Funds questionnaire helps you gather purchase funds information to comply with AML regulations. The user-friendly form lets you know exactly where your clients funds are coming from.
The app will ask your client to confirm the details of the property being purchased. They will be asked to provide:
- The total value of the property being purchased
- The value of any stamp duty being paid
- And the address of the property being purchased.
Once the above information has been confirmed your client will then be given the option to 'Add Source' where they can add all of the funds that they are contributing to the purchase such as a mortgage or any savings by selecting them from the list provided:
Your client will be asked to confirm:
Mortgage
- The mortgage amount
- The name of the lender
- If the mortgage funds originate from outside of the U.K. (if so, where)
Savings
- The total amount of savings
- Employment status, income, pay frequency, pay description
- Other incomes (rent, dividends, interest, trust, benefits)
- If they're purchasing with someone else who's contributing their savings
- If the savings originate from outside of the U.K. (if so, where)
Gift
- The total amount of the gift
- Name, mobile number, relationship of the Giftor
- If the gift is repayable and if we can contact the Giftor
- If the gift funds originate from outside of the U.K. (if so, where)
Selling a property
- The contribution amount from the sale
- The status of the sale
- Name of law firm
- Completion date
- If the sale of the property is taking place outside of the U.K. (if so, where)
Selling an asset
- The contribution amount from the asset
- What they are selling
- If the asset is being sold outside of the U.K. (if so, where)
Inheritance
- Contribution amount from inheritance
- Name of who the inheritance has come from
- Date of inheritance
- Do the inheritance funds originate from outside of the U.K. (if so, where)
Divorce
- Contribution amount from divorce settlement
- Name of lawfirm
- Date of divorce
- Do the divorce settlement funds originate from outside the U.K (if so, where)
Cryptocurrency
- Contribution amount
- Where's the money coming from
- Does this source of funds originate from outside of the U.K. (if so, where)
Other
- Contribution amount
- Where's the money coming from
- Does this source of funds originate from outside of the U.K. (if so, where)
Need more help?
Check out the other articles in this section: Source of Funds & Open Banking
These articles should answer most of your questions. However, if you have any further queries please click the live chat button in the bottom right of your screen to talk to a member of the Client Support Team.
Furthermore, should your client have any queries about the process, our dedicated Customer Support Hub will provide the answer to many of your client's questions. From here they can also chat directly with one of our consumer support team who can provide real-time help and assistance.