Source of Funds & Wealth and SDLT Questionnaire

Solicitors’ Regulations and the Council of Mortgage Lenders require us to establish how you intend to fund your purchase, and the source of your funds and wealth. Please take a few moments to complete the following questions.

As a law firm we operate within the money laundering regulated sector and as such we are required to undertake checks into a client’s source of funds and source of wealth in order to be satisfied that our clients’ financial and other assets have not been obtained through criminal activity. Please understand this is a regulatory obligation on our part and complete details of your source of funds and source of wealth below.

The funds for your transaction can come from a number of sources such as savings, an inheritance, a gift from a relative, company dividends, the sale of another property, shares or a compensation award. Please provide evidence of the source of your funds / “source of balance” including copy bank statements and/or savings statements.

Please note we will be unable to accept any funds into our client account until we are in receipt of satisfactory evidence of your source of funding

Your source of wealth relates to how you acquired your total wealth not just the funds for this transaction for example, what activity has generated or contributed to the accumulation of your financial or other assets.

Please categorise details of your source of wealth below, by ticking the applicable source(s) and providing the details:

Please sign to confirm that we may contact the third-party provider of this money as we have obligations to carry out Money Laundering Checks on all persons providing funds, and to recommend where appropriate that they seek independent legal advice.

I / We hereby authorise Roythornes to contact the party providing part of my purchase money:

If this purchase is intended to replace your current main residence which has not yet been sold, the higher rate SDLT is payable on completion of your purchase. A refund of the difference between the normal rates and the additional Higher Rate SDLT can be claimed from HMRC provided the sale of your former main residence completes within 3 years of your purchase.

To be eligible for First Time Buyer relief up to £425,000 can you confirm all purchasers have NOT at any time had an interest in any property anywhere in the world. This includes previous acquisitions by inheritance or gift, or by a financial institution on behalf of a person under an alternative scheme. The property must also be occupied as your residence to claim the relief.

If you’re not present in the UK for at least 183 days (6 months) during the 12 months before your purchase, you are ‘not a UK resident’ for the purposes of SDLT.

Please read the statement below and tick the checkbox to confirm:

I/We certify that the above information is correct and that Roythornes Limited may utilise this information when preparing the SDLT return on my/our behalf and submitting SDLT payment on completion:

Once completed, this form is automatically sent to our Residential Conveyancing Team for processing.

Your trust is important to us and it is equally important that you understand how we collect and use your data. To find out more, please read our Privacy Notice or visit our website at any time.