So many clients ask this question when buying and selling property, it is common to hear “I have just given all this to the estate agents and my mortgage broker it is such a pain”. The short answer is to protect you and us. Money laundering is a problem for the UK, with trillions of pounds thought to be laundered through banks and properties. It has been pinpointed as a target for the government, with the economic secretary to the Treasury John Glen saying that “Money laundering regulation exists to help protect an honest business, so anyone who flaunts the law should know that swift action will be taken.”

There was a time when Stamp Duty payable on the purchase of the property was simple in that there was a fixed percentage payable on all types of property if the purchase price exceeded a threshold which was intermittently raised with inflation.

Another question I am often asked.... Why do I need to insure my property on the exchange of contracts instead of the date of completion? Good question. It can be a common misconception with buyers of property that a Conveyancer actually acts for the mortgage lender as well as them.

Residential conveyancing is an area of law which is a common target for fraudsters setting up a bogus law firm. A bogus firm is a firm who is not regulated by the Solicitors Regulation Authority (SRA) and pretends to be entitled to provide reserved legal activities or call themselves solicitors. This is a criminal offence and the reports of such incidents being reported are rising.

One of the most frequently asked questions I receive is ‘when can I book my removals’ or even ‘I have booked my removals!’ This is one of many million dollar questions I am asked throughout the Conveyancing process.