The SRA AML Report – what does it mean for Source of Funds and what can you do about it?
Amidst a tide of new and updated legal anti-money laundering (AML) regulation, conveyancing remains very much the highest risk area. As part of this, failure to carry out Source of Funds (SoF) checks remains the second most common reason for an AML report to be received from the regulator. From the SRA report: “Understanding the […]
Mortgage capital repayments at ‘record high’ – report
UK mortgage holders are repaying record amounts of mortgage debt in the higher interest rate environment, according to the Equity Release Council’s Autumn 2023 Market Report. High levels of debt and a lack of pension savings make it “increasingly likely” that homeowners will need to borrow against the value of their properties in later life […]