Conveyancing money laundering checks

[HappyAs]

Hi, I released some equity on my property last year for home improvements. I am now considering a new purchase and wondered whether some of this cash could be used or whether the money laundering checks would query it. Obviously the money was obtained legally so its source can be proved and is not laundering as such, but how much does the conveyancing process dig? Is this likely to cause me a problem and should I go back to my bank and declare my intentions? Do I legally have to go back to my bank?

Any advice would be appreciated.

Edit: I should also add that I am still well within positive equity with my mortgage.

[Amethyst]

Was the equity release loan for specific purposes ie.was it used to improve the property ?

[HappyAs]

I've had a read through my offer documentation and it is described as a "Homeowner loan" with no stipulation (that I can see) about what the money has to be used for. We were upfront when getting the cash and informed the provider that we were planning home improvements & family holidays etc...

[Amethyst]

You shouldn't have an issue - I was just concerned you'd obtained the improvements loan equity release telling the bank you'd be doing say, building an extension and installing a new kitchen, which would add value to the property the loan was secured against etc. But if it was simply a homeowner loan from your equity without being restricted as to it's use, I can't see you'd have any issue.... although if your new purchase is going to be on a mortgage and you intend using the equity loan as deposit - then you might have issues as you'd have to declare the source.

Whatever the new purchase is, remember it is security on your house that is paying for it.