Source of Funds

In property transactions, completing thorough Source of Funds (SOF) checks is not only a regulatory requirement but also a key part of ensuring the transaction progresses smoothly for all parties involved.

To avoid unnecessary delays or complications later in the process, our firm carries out SOF checks right at the beginning of the matter – shortly after receiving the client’s initial documentation.

Why Early Checks Matter

SOF checks are mandatory. They allow us to confirm that the money being used in a transaction originates from legitimate and traceable sources. By completing these checks at the outset, we ensure we can review and approve the client’s funds in good time, well before any critical milestones such as exchange.

Leaving these checks until just before exchange carries significant risk. If the funds do not meet the required regulatory standards at that late stage, we would be obliged to disinstruct the client. This would almost certainly cause considerable disruption – not only for the client, but also for referrers, agents, and others involved in the chain.