The source of funds feature of Legl will allow your client to upload all the details and supporting documentation for their property purchase or legal matter. Verification of the source of funds plays a crucial role in ensuring compliance with financial regulations and preventing money laundering. When completing Source of Funds checks for property transactions, various scenarios such as self-funded contributions, joint accounts, and gifts require tailored documentation and processes.

Your client will be asked to provide 12 months of bank statements from the bank accounts the funds are held in, either via fetching transactions directly from an online bank account or uploading bank statements manually.

The sources available and descriptions are below:

From the sale of property We’ll need the proceeds of sale, property’s address and your Solicitor’s details	From re-mortgage of other property We’ll need the remortgage amount, property’s address and your mortgage lender’s details
From sales of investments We’ll need the type of investment, investment amount, your account details and documentation for the sale	From a gift from a 3rd party We’ll need the gift amount, your account details, bank statement, gift letter and the 3rd party’s contact details
From savings We’ll need your savings amount, account details, income source, and evidence of 12 months of statements from the savings account	From inheritance We’ll need the amount of inherited funds, a letter from the Executor and a bank statement
From a loan from a 3rd party We’ll need the loan amount, your account details, bank statement, loan letter and the 3rd party’s contact details	From other sources If none of the other sources apply, use this one. You can include a description of the source and upload all supporting documentation

The information and documentation requested for each source is as follows:

From the sale of property:

Amount
Property Address
Do any of your funds come from outside the UK? (Yes/No)
Has this money been received yet? (Yes/No)
Solicitors/ Conveyancers details (name and address)

From re-mortgage of other property:

Amount
Do any of your funds come from outside the UK? (Yes/No)
Has this money been received yet? (Yes/No)
Details for account receiving funds
Property Address
Mortgage lenders details (name and address)

From sale of investments:

Type of investment (including stocks, shares, ISAs, insurance and pension policies)
Amount
Do any of your funds come from outside the UK? (Yes/No)
Has this money been received yet? (Yes/No)
Details for account receiving funds
Document evidence upload (proof or bill of sale & Bank statement showing money has been received)

From a gift from a 3rd party:

Does the money require repayment? (Yes/No)
Has this money been received yet? (Yes/No)
Amount
Account details
Bank statement showing the transaction (if additional information required)
Information of 3rd party (including name, email address and address)
Gift deposit letter
Third party's contact details

From savings:

Amount
Do any of your funds come from outside the UK? (Yes/No)
Account details
Income source (Employed/Self employment/Retired/Other)
Annual Salary
How the payment appears on their statement
Document evidence upload (P60 and recent pay slip)

From inheritance:

Amount
Do any of your funds come from outside the UK? (Yes/No)
Has this money been received yet? (Yes/No)
Details of bank account receiving funds
Estate details plus the name of/a list of Executor(s) and their address(es)
Document evidence upload (Executors letter & bank statement showing money has been received)

From a loan from a 3rd party:

Amount
Do any of your funds come from outside the UK? (Yes/No)
Has this money been received yet? (Yes/No)
Account details
Bank statement showing money being received
Loan letter
Third party's contact details

There is also an option for 'other source':

Description of source
Amount
Do any of your funds come from outside the UK? (Yes/No)
Details of bank account receiving funds
Option to upload documents

How to review the source of funds documentation

Once complete, the source of funds report will be available from the Engage dashboard alongside any other completed workflow steps.

Within the report you can see a breakdown of what information is available, including the bank statements or transactions provided by the client and the completed source of funds questionnaires. Your client is able to provide as many sources as required to confirm where the funds for the transaction are coming from and how they were obtained.

Each source contains the completed questionnaire, and any supporting evidence as provided by your client. It will also confirm which bank account the funds are being sourced from.

If your client has provided bank transactions by connecting their online bank account, you will see a list of all transactions from the last 12 months for the accounts provided, including key insights into larger transactions and highlighted cash deposits. If your client has chosen to add bank statements via manual upload, they will be attached in the report.

Open Banking

How transaction classifications work

When your client connects their bank account via Open Banking, Legl retrieves 12 months of transactions, which are then organised by our third-party provder using a system called transaction classification. This gives additional context to each transaction, helping you more efficiently understand the nature of incoming and outgoing funds.

What transaction classification means

The Classification column assigns a category and subcategory to purchase-related transactions. This helps identify patterns such as salary payments, transfers, regular spend, or merchant-specific activity.

These fields are currently supported for banks in the UK, Ireland and France.