Source Of Funds Just Before Exchange :( ... So Slow and Tired Now

fonzyg50

Really hope someone can ease my stress please its been such a long process its been 5 months  
selling and buying , sale side they were ready since dec 24, im delaying everyone because of solicitors 

 is this normal to do source of funds just before exchange ?? 

AskAsk

they shouldn't have left it this late to ask but it has happened to my ex as well, where it was asked just before exchange! although it was a week before exchange and before the completion statement was produced.  it was very stressful.

a proper solicitor should have done all these checks well before exchange but some leave it until closer to the time.

unfortunately you have to provide whatever they ask for or they won't pass you, even if whatwever they ask for sounds completely bizarre or stupid, you need to do it as it is what they think they need to satisfy themselves that the money is legit for ALM.

fonzyg50

AskAsk said:

they shouldn't have left it this late to ask but it has happened to my ex as well, where it was asked just before exchange! although it was a week before exchange and before the completion statement was produced.  it was very stressful.

a proper solicitor should have done all these checks well before exchange but some leave it until closer to the time.

unfortunately you have to provide whatever they ask for or they won't pass you, even if whatwever they ask for sounds completely bizarre or stupid, you need to do it as it is what they think they need to satisfy themselves that the money is legit for ALM.

this is how am feeling about this solicitor INCOMPETENT , around 3 month ago they started to question my maiden name because its not in my passport but it is on my mortgage offer , guess what it took 5 weeks to sort that out, all i had to do was email the reason why and that was it . writng this making me fume

user1977

AskAsk said:

a proper solicitor should have done all these checks well before exchange but some leave it until closer to the time.

To be fair, they need to have the paper trail all the way up to the money hitting the solicitors' account, so even if they did earlier checks they'd then have to go back to get the last bits of evidence.

And "looking after" somebody else's money in your account is precisely the sort of thing they're worried about...

Hoenir

fonzyg50 said:

Really hope someone can ease my stress please its been such a long process its been 5 months  
selling and buying , sale side they were ready since dec 24, im delaying everyone because of solicitors 

 is this normal to do source of funds just before exchange ?? 

Shouldn't be a problem if all the paperwork is to hand.