Prepare the info your conveyancer will need from you
Updated: 14th Jun, 2024
Author: Charlotte Burton
Your conveyancer will start by sending you a letter (via email) confirming you have chosen to instruct them & the cost estimate. They will then ask for you to send some initial information and documents they need to start the conveyancing process.
In an email or through their online form, you need to send them back the following information for all buyers:
- ✍️ Your signature on the instruction letter, or your agreement written in the email or form
- 🪪 A photo of your proof of identity (such as passport or driving licence)
- 📌 Proof of your current address (such as a bill or bank statement, not more than 3 months old)
- 📞 Contact info
- 🎂 Date of birth
- 🔢 National insurance (NI) number
- 🏡 The details of the seller’s estate agent
- 🏦 Which mortgage lender you are planning to use (if applicable)
🔍 Source of Funds
Your conveyancer will also send you a source of funds form to fill in, to prove the money didn’t come from crime.
They may ask you for evidence to support your form including:
- Bank statements showing how you saved up the money over time.
- Documents to prove where lump sums came from, e.g. a copy of the will for inheritance, a copy of a sales contract and evidence of the money transfer for sales of big items like cars, a receipt proving your lottery winnings etc.
🎁 Gifted deposits
If you are receiving money from someone such as a family member or friend that will be put towards your deposit, your solicitor will need some additional documentation.
- A gift counts as any money given to you by someone within the last 12 months.
- If this money is being used to pay for some or all of a mortgage deposit then it is called a "gifted deposit".
- Some mortgage lenders don’t allow gifted deposits at all. Others have strict rules about who can give you a deposit - often only close family can give you the gift, and they can’t be the ones selling the property to you.
- If the gifter is in a “high-risk” country or has connections to one, the funds may not be acceptable due to Money Laundering Regulations.
- If you have a gifted deposit, you'll need to provide a letter from the gifter stating their name & relationship to you, the amount of money & confirmation it’s a gift with no expectation of repayment or stake in the property. You'll also need to send proof of their ID, proof they have the money, & evidence of how the money came into their possession.
