At UK Moneyman we understand that the conveyancing process of purchasing, selling & remortgaging a property can be daunting and to make you aware of the process we have put together this helpful guide.
Once your property has been found and the offer is accepted you can start the conveyancing process.
Your conveyancer will send you a Welcome Pack either via email or post. It is important to understand that until the Welcome Pack is returned, your conveyancer cannot start acting on your behalf and the process cannot begin.
Searches cannot be ordered until the Welcome Pack is returned, and the seller’s conveyancer has sent your conveyancer the draft contracts including the plans.
Once they have been returned the conveyancer can move to the next part of the process. At this time, you will be asked for a case opening fee from your conveyancer which is usually £200 – £300 dependent on the conveyancer.
Your conveyancer will receive the Mortgage Offer in writing from the mortgage lender. It is now common practice for conveyancers not to order the searches until the mortgage offer is received.
This is for your protection because if the mortgage offer collapses after the searches have been ordered, you might be liable for the search costs.
Searches on the property and the surrounding area are required to ensure there are no issues. Many of the searches are relatively quick to be returned, however the Local Authority Search can take some time to complete.
They average around 15 -45 days to complete. A considerable amount of the local authorities say that searches can be done in 5 working days, however in our experience this is not usually the case.
Once the searches are returned your conveyancer will raise enquiries with the seller’s solicitors to check that the property is not subject to any restrictions.
Once the enquiries have been raised your conveyancer will have to wait until they are received. It is also worth noting that this process may be repeated more than once to enable your conveyancer, who is working on your behalf, to be satisfied.
Once the searches and enquiries have been satisfied you will be sent all the contracts, which will need to be signed and returned to the conveyancer.
Once contracts have been signed and returned, dates can be set for completion and exchange. Once completed you can collect your keys from the estate agent.
In this document we have tried to be as thorough as possible, however no case is the same and therefore all timescales above are subject to the individual circumstances of your own case.
This document is aimed only as a guide to the conveyancing process.
Thank you for choosing UK Moneyman. We hope you have been happy with the service provided by our team.
We pride ourselves on our customer service levels and aim to make you feel like a valued customer for many years to come.
Please find below important information about your new mortgage:
How and when your first mortgage payment is made can vary significantly between lenders.
Your first mortgage payment will usually be on a “pro-rata” basis. As a rule, your mortgage lender will either send you a letter, text message or email with the amount and date of your first payment.
They often give you a few days’ notice before the direct debit is due. Everything settles down in month 2 and your payment will be as per your mortgage offer.
As a valued customer, we will review your mortgage daily with our mortgage monitor service Dashly. We will let you know when there is a better deal available for you to switch to.
You will receive a monthly email from us with your estimated mortgage balance, property value and it’ll let you know whether you’re still on the best deal.
If you receive a new deal directly from the bank, please take advantage of our free, no-obligation remortgage appointment for your Advisor to compare this to other deals that are available to you elsewhere.
Please note, that a product transfer with your current mortgage lender may not be the cheapest deal. If it is, we will let you know and can perform the switch on your behalf.
If we haven’t arranged your protection policies alongside your mortgage already, please consider asking us for a no-obligation recommendation.
If you have taken a mortgage for the first time, increased your mortgage borrowing or extended the term of your mortgage it is important that you review your personal and family insurances.
We can provide individual and family protection solutions, including, life insurance, critical illness and income protection insurance.
Also, if you are self-employed or receive very little or no employer benefits, we can help.
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Our number one priority is to provide customers with the highest level of service. However, we know that sometimes things can go wrong. Customer feedback helps us understand where things have gone wrong and gives us the opportunity to put them right. It also helps us understand where we need to improve our products and services.
If you have a complaint about your mortgage adviser or the service you received, please contact us below.
Post: UK Moneyman Limited (Complaints), 410 Wincolmlee, Hull, HU2 0QL
Phone: 0333 412 2222 (9am-5pm, Monday to Friday)
If your complaint cannot be resolved straightaway we will:
Acknowledge receipt in writing, confirming our understanding of your complaint, who will be handling it and giving you the opportunity to provide any further information or documents.
If you’re dissatisfied with our response from UK Moneyman, you can ask the Financial Ombudsman Service for an independent review free of charge, but you must do so within six months of the date of UK Moneyman’s final response letter.
The Financial Ombudsman Service (FOS) will only consider your complaint once you’ve tried to resolve it with us, so please take up your concerns with us first and we’ll do all we can to help.
The FOS is also only able to consider certain categories of the complaint, for example, complaints about Buy to Let mortgages, which are not regulated by the Financial Conduct Authority will normally be outside the jurisdiction of the FOS.
In addition, the FOS might not be able to consider your complaint if:
What you’re complaining about happened more than six years ago, and You’re complaining more than three years after you realised (or should have realised) that there was a problem.
If your complaint was made outside of these time limits, which is a matter for The Ombudsman to decide, The Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if it believes that the delay was as a result of exceptional circumstances.
Further information on the services provided by the Financial Ombudsman Service can be found on their website: http://www.financial-ombudsman.org.uk or alternatively,
Post: The Financial Ombudsman Service, Exchange Tower, London. E14 9S
Phone: 0800 023 4567 or 0300 123 9123
As the controller of your data, UK Moneyman Limited comply with and are registered under the Data Protection laws in the United Kingdom. We take all reasonable care to prevent any unauthorised access to and use of your personal information.
Your personal information is required to enter into any contract you may undertake with us as your broker for a mortgage or protection product, and for us to provide information on relevant products and services. Without this information, it would not be possible for us to provide these services.
The majority of this personal information is collected by our mortgage advisors when completing our fact find for a mortgage or protection product, from our mortgage administrators as part of our internal compliance checks or from the enquiry form on our website.
As your broker, we use your personal information to discuss your personal circumstances with mortgage lenders and/or protection providers, in order to determine the most appropriate product for your needs.
The personal information you provide may be used by automated decision-making systems to check your eligibility for products and services. A lender may then undertake credit enquiries upon receipt of your mortgage application.
Your personal information may be shared with UK Moneyman Limited’s approved contractors or agents, in order to maintain the customer relationship by providing continuing advice as your broker and to inform you about relevant products and services.
We disclose personal information to third parties such as lenders and protection product suppliers, but only to what is necessary to conclude the mortgage and/or protection contracts and the ongoing servicing of these contracts.
It may also be necessary to share your personal information with non-affiliated companies who perform support services on our behalf including those that provide professional, legal or accounting advice to UK Moneyman Limited.
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Finally, under limited circumstances, your personal information may be disclosed to third parties as permitted by, or to comply with, applicable laws and regulations, for instance, to meet our obligations to the Financial Conduct Authority (FCA) and when responding to subject access requests, proceedings of a court of law or similar legal process, to protect against fraud, and to otherwise cooperate with law enforcement or regulatory authorities.
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If you subsequently want UK Moneyman Limited to cease using your personal information for these purposes, please contact our Compliance team at firstname.lastname@example.org.
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Changes to our Privacy Notice
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