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Remortgage and Transfer of Equity Information

Leaflet

Contents

1. What can you expect from Total Conveyancing Services Page 2 2. The remortgage process explained Page 3 3. The transfer of equity process explained Page 4 4. Transfers at Undervalue and Matrimonial Transfers Page 5 5. How to complete your T.C.S. Questionnaire Page 7

Part 1: Your Details Part 2: Your Existing Loan Part 3: Your New Mortgage Part 4: Funding Your Transaction Part 5: The Property Part 6: Transfer of Ownership Part 7: Additional Information Part 8: Authorisation

Page 7 Page 7 Page 7 Page 7 Page 10 Page 11 Page 11 Page 11

6. Further Questions Page 12 How much will it cost? How long will it take? If I am unhappy with your service who should I contact?

Page 12 Page 12 Page 12

7. Terms and Conditions Page 13

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What can you expect from Total Conveyancing Services

This leaflet is designed to guide you through the process involved to carry out your transaction. It outlines what you need to do and what we will do for you. Please read this leaflet carefully as it contains information vital to your transaction.

During your transaction we will: -

Explain the process as clearly as possible to you

Answer any queries you may have

Provide you with regular updates by phone and in writing

Follow your instructions and provide you with appropriate timescales

Complete your transaction whilst acting in accordance with legal requirements and

the Council of Mortgage Lenders Handbook.

If you have any questions about your transaction please contact us directly so that we can help you.

“My case handler was very professional and kept me informed throughout the process. I would definitely recommend T.C.S. to others.”

“It was pleasure to have T.C.S. deal with the legal work. There were very polite, professional and kept me informed at all times on the progress of my case from start to finish.”

“I am 100% satisfied with the service from T.C.S. They were professional throughout and my case handler was a pillar of support. I hope to use T.C.S. again in the future.”

“Our mortgage application was a tricky one as the property had a few restrictions to deal with before we could complete. Our case handler made everything easy as she provided clear and honest advice. I have no doubt that without T.C.S. the whole process would have been a lot harder.”

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What is Track My Case?

Your case handler will provide you with regular updates but you can also track the progress of your case online at www.trackmycase.com. This will give you access to key milestone updates and frequently asked questions. You will need a PIN to use this service which you can obtain by calling Legal Marketing Services (LMS) on 0345 075 7424.

The remortgage process explained

We understand that you will want to complete

the remortgage within a specific time frame.

The outline on the right shows the various

stages of a straight forward remortgage.

Sometimes a straight forward remortgage may

not be a simple transaction, (for example you

may also require the ownership of the property

to be transferred or require us to repay more

that one secured loan).

We will deal with any obstacles as efficiently as

possible to ensure that your needs and

expectations are met. We will also keep you

updated so that you are aware of how long your

transaction is likely to take.

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The transfer of equity process explained

Will Stamp Duty apply to the Transfer of Equity? If you are adding or removing a person to or from the property HMRC will require a Stamp Duty Land Tax form if the consideration for the share is more than £40,000. We are happy to calculate your consideration and complete and lodge this form on your behalf for a professional legal fee. If the consideration for the share in the property is more than £125,000 HMRC will require you to pay Stamp Duty Land Tax. We will contact you immediately if your transaction requires Stamp Duty Land Tax. For further information regarding Stamp Duty Land Tax please visit www.gov.uk/stamp-duty-land-tax-rates Please be aware that if the transfer has arisen as a result of a matrimonial separation you will not be required to complete a Stamp Duty Land Tax form or pay Stamp Duty Land Tax.

If the names on the Title do not match the names on the new Mortgage Offer we may be required to transfer the ownership of the property. This process is known as a Transfer of Equity. The outline on the right shows the various stages of a Transfer of Equity. A Transfer of Equity is a longer and more complicated process than a straight forward remortgage. Our professional legal fee will be applicable if we are required to carry out a transfer of equity on your behalf. However, T.C.S. will progress the transfer of ownership as quickly as possible and keep you informed at all times. A Transfer of Equity is not required to remove a deceased person’s name from the property Title if the share of the property is being transferred to a person who is already identified on the Title and is entitled to receive the share.. In this type of transaction we must send a copy of the Death Certificate to Land Registry; Land Registry will then remove the deceased’s name from the Title. If you require us to undertake this work on your behalf our professional legal fee to verify the owner of the property will apply.

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Transfers at Undervalue and Matrimonial Transfers

Transfers at Undervalue

A transfer at undervalue occurs when an owner transfers all or part of their share in the property for less than its value. We understand that some owners are willing to transfer their share for less than its value; however, this does present a risk to the lender.

This is because if the person who transferred their share for less than its value becomes bankrupt within five years of the date of the transaction, the transfer of equity could be reversed. If it was reversed the lender would no longer have a secured charge registered against the property which means it is at risk of not being able to recover its loan. Section 339 of the Insolvency Act 1986 confirms that if an individual who has entered into a transaction at undervalue becomes bankrupt, the Trustee of the bankrupt’s estate may apply for a Court Order to restore the bankrupt to the position he or she would have been in before the transaction. For this reason your lender will require you to put a Transfer at Undervalue Indemnity Policy in place to protect the loan and comply with the Council of Mortgage Lenders Handbook.

Matrimonial Transfers

If you are removing your spouse or ex spouse from the Title as a result of a matrimonial breakdown we must ensure that the transaction complies with your sealed Consent Order

How do you establish if my transaction involves a Transfer at Undervalue?

We calculate the “consideration” of the transfer. “Consideration” is the term used to describe the amount of value that is being paid for the share in the property. It is calculated by adding the share of the existing secured debt that is being transferred to the lump sum payment that is being made to transfer the ownership of the property. If this amount is not equal to the market value of the share based upon the value of the property, the transfer will be a Transfer at Undervalue.

Please find below an example to help explain the above: -

A property is valued at £150,000. It is owned by two people in equal shares and is being transferred to one of the owners. There is a mortgage secured on the property for £50,000. The remaining owner will pay the person who is being removed from the property £40,000.

The consideration of this transfer is £65,000, (i.e. the share of the existing debt that is being transferred £25,000 plus the lump sum payment of £40,000). The market value of the share is £75,000 (i.e. half of the property value). The consideration is less than the market value of the share and therefore this is a Transfer at Undervalue.

How does a Transfer at Undervalue Indemnity Policy protect the lender?

The policy that will be put in place protects the value of the loan for a period of five years from the date of the transfer. The transfer cannot be reversed by Trustees in Bankruptcy following this five year period. The policy will protect the lender by paying it the remaining loan amount in the event that the loan becomes unsecured as a result of the Transfer at Undervalue being reversed as a result of bankruptcy. We must inform you that the policy will protect the lender but it will not protect you.

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or Financial Ancillary Relief Order. This is to protect the lender from the Transfer being set aside by the Court at a later date. If you have not instructed matrimonial solicitors or if your Order is not finalised we can proceed with your transaction providing that a Matrimonial Transfer Indemnity Policy is put into place. In addition to the above we may require you to complete a Matrimonial Waiver and/or a Separation Statement depending on your individual circumstances. If we are required to draft these documents on your behalf a professional legal fee may apply.

Alternatively, you may wish to wait until your Consent Order is available – however, this may delay your transaction and your Mortgage Offer may expire. Please note that a Decree Absolute is not a sealed Consent Order.

Obtaining a Policy

We can obtain a suitable policy on your behalf or you may wish to source a policy yourself by contacting an insurance provider. If you wish to source the policy yourself we will require a draft copy of the policy before completion so we can check that it provides adequate protection. Please do not agree to take out the policy until we have approved the draft copy as if it is not suitable we will require you to source a different policy. Once we have approved the draft copy and arranged a completion date we will require you to send us documentary evidence from your insurer to show that you have paid your insurance premium and that the policy will be put in place and effective from the date of completion.

I would like T.C.S. to obtain a policy on my behalf - how much will it cost? You will be required to pay for the policy itself. We have included a chart below to outline the cost of the policies that we are able to source on your behalf. The price quoted is a “one-off” payment.

Transfer at Undervalue

Policy Provider

Amount of Additional Borrowing Premium

Stewart Title

£0 - £100,000

£100,001 - £200,000

£200,001 - £500,000

Over £500,000

£79.50

£121.90

£148.40

£169.60

Matrimonial Transfer

Policy Provider

Mortgage Advance Premium

Stewart Title

£0 - £100,000

£100,001 - £200,000

£200,001 - £500,000

£139.00

£179.00

£209.00

How does a Matrimonial Transfer Indemnity Policy protect the lender?

A Matrimonial Transfer Indemnity Policy will protect the lender by repaying the lender its loan amount in the event that the loan becomes unsecured as a result of the Transfer being set aside as a result of matrimonial proceedings. If you wish to proceed with the Matrimonial Transfer Indemnity Policy you will not be required to put an additional Transfer at Undervalue Indemnity Policy in place providing that you are not adding any person to the property at undervalue.

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How to complete your T.C.S. Questionnaire

It is essential that you complete all of the questions in the T.C.S. Questionnaire. If you require assistance to complete your questionnaire please contact us so that we may help you. Part 1: Your Details

Please complete this section and check that we have entered your full name and address correctly. Please ensure that you provide us with your date of birth, national insurance number, occupation and a contact telephone number.

If you provide us with an e-mail address we will contact you by e-mail. However, we must point out that this is not a secure method of communication. If you would prefer us not to e-mail you please leave the e-mail section blank.

Part 2: Your Existing Loan

Please fully complete this section of your questionnaire as we require this information to obtain a redemption statement or deed of postponement from your existing lender. You will be able to obtain the information required to complete this section from your most recent loan statement.

Please be aware that some lenders require you to provide them with one months notice to remove an early repayment charge. If your lender requires this please contact them to provide one months notice.

Part 3: Your New Mortgage

Please confirm that the information at question 1 is correct and confirm your preferred completion date at question 2.

If you wish to complete after the expiry of an early repayment charge, please ensure that the date you enter is after the early repayment charge expiry date.

If you wish to complete as soon as possible please write “A.S.A.P.” in the date box at question 2. We will do everything we can to complete your transaction as quickly as possible.

Part 4: Funding Your Transaction

Please complete all of the questions at Part 4 carefully. If

What is a Deed of Postponement?

If you have a secured loan that you wish to keep your new lender will require your existing lender to complete a “Deed of Postponement”. This is a legal agreement and confirms that the new lender will be able to reclaim the full amount of its outstanding debt before the second lender in the event of debt recovery. If you wish to keep a loan that is already secured against your property we will draft the Deed of Postponement and send it to your existing lender. Please be aware that this is likely to extend the length of time it takes to complete your transaction as the existing lender will need to consider its position. There is an additional fee to for this service – please refer to your list of additional fees for further details.

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you are expecting a balance of funds upon completion please confirm what the funds will be used for at question 3; for example, you may have remortgaged your property to release equity to pay for home improvements, purchase a new car, or pay a bill.

I need to pay a shortfall of more than £5000. What additional documents do I need to send T.C.S. and why? We are required by the Money Laundering Act 2007 to ensure that all funds received into our account have been accumulated legitimately. Most borrowers are able to show us how they have accumulated the shortfall by providing us with copies of bank statements. However, sometimes it will be necessary to provide additional documentary evidence to show where the money initially came from, for example, if you inherited the money we will also require a copy of the letter from the probate solicitor confirming the payment made into your account in addition to the bank statement showing that the money has been transferred into your account. We recommend that you send your documentary evidence by recorded delivery. Please check your evidence before your send it to ensure that all bank statements clearly show the name of the account holder. We would like to reassure you that we hold your documentation strictly in accordance with the Data Protection Act 1998. We will keep it secure and confidential at all times.

I am paying my shortfall with a gift received from a family member. What additional documentary evidence do I need to send? If you have received a monetary gift we will require copies of your bank statements to show that the gift has been transferred to your own bank account. We will also need copies of bank statements from the person who provided the gift to show how the amount accumulated and the date that it was transferred to your own account. We are required by the Council of Mortgage Lenders Handbook to refer gift information to the lender. This means that we will also require a signed letter from the person who has provided you with the gift and certified copies of their identification.

What needs to be included in the gift letter? To comply with the Council of Mortgage Lenders Handbook we will require a signed letter from the donor of the gift to confirm: -

That they are providing you with a gift The amount of the gift Their relationship to you, e.g. parent That the gift is not refundable and not interest bearing

That they will not retain any interest in the property and will not live at the property.

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Please find below some shortfall checklists to help you. However, if these do not assist you please contact us so that we can help guide you through this process. Please note that all bank statements sent to us must clearly show the name of the account holder.

I have saved the money myself

I have been gifted the money

I inherited the money

Please send copies of your

bank statements showing the amount accruing to the full shortfall value.

We will require copy statements from your current account and savings account of you have transferred this money from one account to the other.

Please send us copies of

the donor's bank statements showing the amount accruing to the full gift value.

Please also send copies of your bank statements to show that the gift has been transferred to your account.

We will also require a gift

letter from the donor - (please refer to page 7)

Please provide us with

certified copies of the donor's I.D.

Please send us copies of

your bank statements to show when the inheritance money was transferred to your account. We will need statements to be dated from when the money was transferred to the current date.

Please send us a copy of the letter from the probate Solicitor to confirm that this inheritance payment has been made to you. If you do not have this please provide us with a copy of the Probate and Will.

I transferred the money from my business account

I obtained the money by selling another property

I obtained the money by selling my shares

Please send us copies of

your bank statements to show that the money has been transferred from your business account to your current account.

Please send us evidence to confirm that you are the director of the company.

We will also require a

letter from all other directors and the company accountant to confirm that you are entitled to the money. This must be on company letter headed paper.

Please send us copies of

your bank statements to show when the sale money was transferred to your account. We will need statements to be dated from when the money was transferred to the current date.

Please send us a copy of the letter from the Conveyancer or Solicitor to confirm that the proceeds of sale have been paid to your account.

Please send us copies of

your bank statements to show that the money has been transferred to your current account.

Please send us a copy of the letter from the shares company to confirm that your shares have been cashed and transferred to your account.

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Part 5: The Property

Please complete this section of your questionnaire carefully and attach copies of any requested documents. By completing this section you are enabling us to identify information that we may be required to refer to the lender.

If you would like our help to complete this part of your questionnaire please do not hesitate to contact us.

I have made structural alterations to my property but I cannot find or did not obtain planning permission, building regulation or completion documents

Planning permission, building regulations and completion documents confirm that building work carried out complies with safety standards. If you do not have these documents your local authority could make an application to order you to put the property back into the position it was in before the building work was carried out. This would impact the value of the property and the lenders security could be at risk.

If you do not have these documents your lender will require a Lack of Building Regulations Indemnity Policy to be put in place to protect its security. If you already have a Lack of Building Regulations Indemnity Policy please attach a copy to your T.C.S. Questionnaire. If you do not have a policy we can obtain one on your behalf. Please be aware that our professional legal fees may apply for sourcing this policy on your behalf. Please refer to the List of Additional Fees for further information.

I have solar panels. How does this affect the transaction?

Mortgage lenders have specific requirements that must be met if your solar panels are owned or leased by a solar panel company. We are required to inform your lender if this is the case. Your lender will review the solar panel lease to confirm that it meets its requirements.

What is Japanese Knotweed?

This is a tall fast growing plant which can cause structural damage to a property. We are required to inform your lender if any part of your property contains Japanese Knotweed. If you have a Japanese Knotweed Management Plan please attach a copy to your completed T.C.S. Questionnaire.

Someone lives at the property and is over the age of 17. What do they need to do?

Your lender requires the occupant to sign an Occupiers Consent Form. This is because the occupier can obtain a legal interest in the property even though they do not own it. By signing an Occupiers Consent Form the occupier confirms to the lender that they will vacate the property in the event of repossession. We will send this form to any Occupiers that you have identified in your completed T.C.S. Questionnaire.

I have received or parted with a share of the property for less than its market value within the past 5 years. How does this affect the transaction now?

This means that a Transfer at Undervalue has occurred within the past 5 years. (Please refer to page 5 for further information). Trustees in Bankruptcy can reverse any Transfer at Undervalue that has occurred within 5 years. If you have already have a Transfer at Undervalue Indemnity Policy please attach a copy to your completed T.C.S. Questionnaire.

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Part 6: Transfer of Ownership

By completing this section you are confirming who you are adding and/or removing from your property. As this is a legal transaction it is crucial that the information you provide is correct and that any settlement amount has been agreed.

Please ensure that you provide us with an address for any person who is being removed from the property as we are required to send legal documentation to them direct.

We must inform the lender if a person who is being removed from the Title will live at the property following completion. This is because the person who is being removed may continue to have occupational rights over the property which will affect the lenders interest in the event of repossession.

Part 7: Additional Information

Please complete the questions in this section and attach copies of any requested documents to your completed questionnaire.

Part 8: Authorisation

If you are happy to proceed with the remortgage please sign and date this section of the questionnaire. Please be aware that be signing the document you are confirming that you have fully read this leaflet and that you agree to the Terms and Conditions contained at pages 13 – 16 of this leaflet. Please ensure that you read the Terms and Conditions before your sign your T.C.S. Questionnaire.

What is a Title Information Deed?

This is a copy of the property register that is contained at Land Registry. This document identifies the property, the owners, restrictions and secured loans (if any). Our regulatory body recommends that you obtain a copy of this document to evidence that your transaction has been completed correctly.

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Further Questions?

If after reading this leaflet you have any further questions please telephone our office so that we may help you.

How much will it cost?

Our professional legal fee in respect of the remortgage is paid by the lender. However, additional work may be required to complete your remortgage; for example, we may be required to carry out a transfer of equity. You will be required to pay our professional legal fees for any additional work that we carry out to complete your transaction.

We understand that you will want to know how much your transaction will cost as soon as possible. We have provided you with an estimate of professional fees in our introductory letter to you, however, please be aware that this is an estimate and does not include disbursements.

Once we have received your completed paperwork and mortgage offer we will be able to provide you with a detailed breakdown of the cost. If at any stage during your transaction you do not wish to proceed we will not charge you any fees.

How long will it take?

We will aim to complete your transaction on your preferred completion date. However, this is sometimes not possible as we may be waiting to receive documents or information from third parties; for example we might be waiting for an existing lender to provide us with a redemption statement or a Management Company to confirm that ground rent is paid up to date.

We will keep you updated and your case handler will inform you if we are waiting to receive documents and/or information.

If we receive all outstanding documents and information quickly the time to complete a standard remortgage (without a transfer of equity) can take up to 10 working days from the date we receive the Mortgage Offer whereas a combined remortgage and transfer of equity can take up to 30 working days. However, these time scales are estimates and some transactions may take longer to complete.

If I am unhappy with your service who should I contact?

We aim to deliver a high standard of customer service at all times. However, if at any stage during the transaction you are unhappy with our service please contact us so that we can discuss your concerns.

If you have any concerns please contact one of our managers on 0151 348 8769. Our managers will do their utmost to resolve any issues you may have.

If you feel that our managers have not addressed your concerns sufficiently please ask to speak to the Case Handler Manager who will be happy to help you.

In the unlikely event that our managers and Case Handler Manager have not been able to resolve a matter for you and you wish to raise a formal complaint please contact our Quality and Customer Standards Department on 0151 348 8799 or customerservices@total-conveyancing.com. Your complaint will be acknowledged within 48 working hours and a full response will be sent to you within seven working days. We are grateful to receive your feedback as it provides us with an opportunity to improve our service.

If you are unhappy with our response to your complaint you may wish to contact the Legal Ombudsman. The contact details for the Ombudsman can be located in the Terms and Conditions section of this leaflet.

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Terms and Conditions

Introduction Total Conveyancing Services is a firm of Licensed Conveyancers. It is regulated by the Council for Licensed Conveyancers whose offices are located at CAN Mezzanine, 49 – 51 East Road, London, N1 6AH. It is the intention of this document to set out in plain and clear language the basis upon which we provide our services. This should be read in conjunction with the client care letter. By signing the copy client care letter you are agreeing to accept the contents of both documents. These terms, whilst explaining matters that can be expected during the process of your transaction, are not exhaustive and do not limit our professional duty to safeguard your interests.

Supervision Your file will at all times be under the supervision of John Jones who is a Licensed Conveyancer and the Compliance Director of the Company.

Legal Advice As Licensed Conveyancers, we are specialist property lawyers qualified to advise on conveyancing law. We will not seek to advise you on non-legal matters, such as the state and physical condition of the property or its connected services or its market value. We will not advise you in relation to financial matters other than those connected to the specific transaction on which we are instructed, nor will we advise you in relation to tax liabilities or payments, save for SDLT matters which are referred to later in these terms. We strongly recommend that if you require advice in relation to any of the above or other matters then you seek the services of a suitably qualified professional in the relevant field. Acceptance of instructions We can decide whether or not to accept instructions from a client. If we receive a referral or nomination from an introducer, this does not mean that we have to accept the instruction to act for the client(s) referred. If we refuse instructions we do not have

to give a reason. Fees & Disbursements We are VAT registered and therefore our professional fees will have VAT added to them as appropriate. We have set out in our client care letter a written estimate of the professional fees, disbursements and other costs which may be applicable to the transaction. This may alter based on a number of circumstances, but if this does become necessary, we will inform you in writing as soon as practicable. Within our estimate we refer to disbursements. These are payments which we expect to make to third parties on your behalf. These may be for search results, stamp duty land tax, bank charges and other sundry items. These will be detailed separately from our professional fees. Under the Stamp Duty Land Tax (SDLT) legislation, a person who buys or transfers the ownership of property is responsible for the completion and submission of a Land Transaction return and also the payment of any SDLT following completion of the transaction. We agree to act as your agents in this regard and in return for this service we will make an additional charge which will be clearly detailed in our client care letter. Please note that this return is ultimately your responsibility and a failure to submit this within 30 days of completion may result in expensive fines and penalties being levied. If for any reason a transaction does not proceed to legal completion you will be responsible for any disbursements we have paid on your behalf. It may be necessary to introduce you to another person or company with whom you may carry out business. If this is necessary, and in your best interests, we will inform you in writing of any arrangements we have with that person/company, together with details of any payments we receive as a result of the introduction. Any money received on your behalf will be held in a client account and as such we will not open a special deposit account in respect of any funds held on your behalf. By signing and returning the duplicate copy of the client care letter, you agree to this.

Unless money received on your behalf is held by T.C.S. for longer than 30 working days we will not account to you for any interest that accrues or ought to accrue on money received on your behalf. By signing and returning the duplicate copy of the client care letter, you agree to this. It is important to note that interest will not be payable in all cases (e.g. If the amount held is less than £750) and that the rate received will be lower than that available to you had the money been invested privately. Indemnity Insurance If, as part of our service to you, we arrange an indemnity policy, such as for defective title indemnity cover, then the following notice applies: This firm is not authorised by the Financial Conduct Authority. We are, however, included on the register under reference CLC504474 maintained by the Financial Conduct Authority so that we can carry on insurance mediation activities, which is broadly the advising on, selling and administration of insurance contacts. This part of our business, including arrangements for complaints or redress if something goes wrong, is regulated by the Council for Licensed Conveyancers. The register can be accessed via the financial conduct authority website www.fca.org.uk. We do not conduct an analysis of the market each time we recommend an insurance product to you and we are not contractually obliged to do so. You can request details of the insurance undertakings that we conduct business with and we will provide you with the relevant details. Confidentiality

We are under a professional and legal obligation to keep your affairs private and confidential. However, we are required by current legislation to make a report to the National Crime Agency where we know or suspect that a transaction involves money laundering or terrorist financing. You agree to this and in doing so you are providing us with irrevocable authority to make a disclosure to them if we consider it appropriate. You accept this duty overrides any duty of confidentiality that we have. Please note that we are unable

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to inform you if we have to make such a report. Call Recording

All inbound and outbound calls are recorded; we do this for two reasons: We can use the calls to monitor the level of service being provided to clients, which will assist in developing our service by providing staff with additional training where necessary. It helps us to have a record of your instructions and any information we provide over the phone.

All calls are securely stored and we use unrecorded lines to take any card payments required. Electronic Communication

We are happy to use email and text message as a way to communicate with you, but you should be aware that confidentiality with using this medium cannot be guaranteed nor is the successful delivery of such communication. If you do not wish for us to use email or text message, please send this instruction in writing. Right to Cancel As we have not met you The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 apply to the arrangement between us. This means you have the right to cancel your instructions to us within 14 working days (without needing to give a reason) from receipt of this notice. You can cancel your instructions by making a clear statement to that effect in writing to us by email, post, or fax. You may use the cancellation form provided with your initial documents, but it is not obligatory to do so. If you requested us to begin work for you during the cancellation period, and you have made a payment on account to us in relation to third party costs, we will reimburse that part of the payment that has not already been spent, at the point we receive your written statement of cancellation. We will make any reimbursement due to you without undue delay, and not later than 14 days after the date on which we are informed about your decision to cancel this contract. We will make the reimbursement using the same means of payment, unless you have expressly agreed otherwise; in any event, you will

not incur any fees as a result of the reimbursement. Cleared Funds & Payment of Bills We can only use funds that have cleared in our account. We would be grateful if any funds received are from your own/joint account in enough time for them to be cleared. A cheque normally requires at least 5 working days (not including Saturdays, Sundays and Bank Holidays) to clear. We recommend that you forward any funds by way of telegraphic transfer (also known as CHAPS). This is a direct payment from your bank account into ours and will clear the same day. Your own bank may levy a small charge on you for this service. There is a process known as a Faster Payment which is similar to telegraphic transfers but is limited to £10,000 and is free. We would ask that you enquire with your own bank whether or not this service is available. Please note that we will not be held responsible for any delay in the transaction which occurs as a result of uncleared funds. We will deduct payment of our fees from any funds held by us on the date of completion. We will not accept cash payments under any circumstances. If a shortfall/deposit is required from you prior to completion we are legally required to obtain from you evidence as to the source of funds being used to complete your transaction e.g. own savings, sale of assets, sale of property or other realisation of personal assets. For example, if you have sold property or shares then please provide to us a copy of such completion letter from the solicitors/agents who dealt with such sale, etc. We are required to see evidence of these monies in your account and will require a copy of your bank statement showing the funds available. In order to prevent any delays in the transaction we ask that you provide this evidence as soon as possible and to notify us immediately if any of the funds are a gift as this will also need to be disclosed to your lender. Mortgage Finance It is important to remember that Total

Conveyancing Services is not in a position to give advice on the suitability of your mortgage offer or finances. Where applicable, we will act for the lender ensuring their advance monies are secure at all times and their charge is registered at the Land Registry following completion (in accordance with the Council for Mortgage Lenders Handbook). We will advise you about the terms of the mortgage offer upon receipt. We will draw down the mortgage advance one working day prior to the anticipated completion date. This is normal practice in order to create certainty and avoid last minute problems. You should be aware that your new lender will charge interest on the advance from the date of the drawdown and therefore if legal completion does not take place on the anticipated date you will be liable for this interest payment. By signing and returning the duplicate copy of the client care letter you agree to this. Completion Arrangements We will provide specific advice in relation to the mechanics to the completion day closer to the time. Mortgage Redemption/Surplus Amounts If there is an existing mortgage to redeem, we will request an accurate and up to date redemption statement from your current lender(s) showing the outstanding balance. We will ask that this statement includes all accounts which the lender has secured on the property. We will rely on this. If following the payment, we are made aware of a shortfall due to their incorrect statement or as a result of you prematurely cancelling a direct debit or standing order to them this will be your responsibility and we will not seek to cover any shortfall. We will redeem your existing mortgage on the day of completion via Telegraphic Transfer. If, following the completion of your transaction(s) there is a surplus amount due to you, we will send this to you by way of a telegraphic transfer. The charge for this is can be depicted from the Additional Fees List we have sent you. If we send you a surplus cheque for less

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than £20, which is not cashed 6 months following completion, we reserve the right to cancel the cheque and handle your surplus in accordance with the CLC Accounts Code and Guidance. Default by Banks/Building Societies Total Conveyancing Services disclaims any liability for loss of client money as a result of default of a bank or building society. Storage and Destruction of File If your file remains inactive for a period of 6 months we will assume that the matter is no longer progressing and will safely dispose of any original documents that you have sent us. After completing the transaction, we will retain your file but to reduce storage space we will scan the file on to a durable medium and destroy the paper file. By signing the duplicate of this letter you agree to this. The file will be kept for the period recommended from time to time by the Council for Licensed Conveyancers. For Sale and remortgage files this is currently 6 years and for a Purchase this is 15 years from the date of legal completion. Referral It is likely that you will have been referred to us by your introducer. If so, then this introduction is regulated by a Code of Conduct. This is called the CLC Code of Conduct- you can ask for a copy from ourselves or visit www.clc-uk.org. It is our duty to inform you that we have a financial arrangement with your introducer. Your introducer should do so as well. Please refer to your copy of the Client Care Letter which should have been enclosed in the initial pack of documents we sent. Despite any financial arrangement, any advice that we give you is independent and you are free to raise questions on any aspect of the transaction and of course you are free to choose another Conveyancer to act on your behalf. Complaints

We are confident that we will at all times

deliver a high standard of customer

service. If, however, there is something

which you are unhappy with, please

contact your Case Handler in the first

instance to enable them to review the

issue in the hope it can be swiftly dealt

with. If this does not assist, please

contact your Case Handler’s manager. If

they are unable to resolve the issue, then

the final internal process is to refer the

matter to our Customer Service

Department, Total Conveyancing

Services, Bickerton House, Lloyd Drive,

Cheshire Oaks Business Park, Cheshire,

CH65 9HQ. Alternatively, if you do not

wish to send your formal complaint

directly to T.C.S. you may refer it to Panel

Manager Legal Marketing Services on

(input) or via email at (input).

Please be advised you will not be charged

for making a complaint. When we receive a complaint from you the following process will be instigated: We will send you a letter acknowledging receipt of your complaint within two working days of us receiving your complaint. If necessary, we will ask you to provide us with further details/information. We will also let you know who will be handling your complaint. We will then record your complaint in our Complaints Register. We will start to investigate your complaint. This will normally involve us reviewing the file and discussing the conduct of your case with the case handler who dealt with this matter on your behalf.

Once a full internal investigation into

your complaint has taken place, we will

send a formal response to you informing

you of our findings within 7 working day

of receipt of receiving the complaint.

The assessment of your complaint will be based upon a detailed, sufficient and fair investigation. If we require more time to investigate the matter, we will notify you and confirm the likely timescales involved but in any event a full response informing you of our findings will be sent to you within 28 days of receiving the complaint from you. If you remain dissatisfied with any aspect of our internal handling of your complaint, you may contact directly the Legal Ombudsman to ask them to

consider the complaint further on 0300 555 0333 or email them at equiries@legalombusman.org.uk. Alternatively you can write to them at Legal Ombudsman, PO Box 6806, Wolverhampton, WV1 9WJ. Unless it agrees there are good reasons not to do so, the Legal Ombudsman will expect you to allow us to consider and respond to your complaint in accordance with the procedure set out above in the first instance. You can refer your complaint up to 6 months after you have received our final written response to your complaint. You can also use the Ombudsman service if we have not resolved your complaint within 8 weeks of us receiving it. A complaint can be referred to the Legal Ombudsman within six years of you discovering a problem, or three years from the date you should reasonably have known there were grounds for complaint. The Legal Ombudsman deals with service-related complaints only; they will refer any conduct-related complaints to the Council for Licensed Conveyancers. Alternative complaints bodies (such as Promediate (www.promediate.co.uk) and Small Claims Mediation (www.small-claims-mediation.co.uk) exist which are competent to deal with complaints about legal services should both you and our firm wish to use such a scheme. However, we do not agree to use Promediate nor Small Claims Mediation. Equality and Diversity Consistent with our internal policies and procedures, we will not discriminate in the way we provide our service on the grounds of race, colour, religion, nationality, ethnic origin, sexual orientation, gender, age, disability or marital status. Ending Our Professional Relationship You can ask Total Conveyancing Services to stop acting for you at any time. We can only stop acting for you if we have a good reason and can provide you with reasonable notice. Examples of when we may stop acting for you are: 1. There is a conflict of interests 2. The relationship between us breaks down

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3. You fail to provide the necessary identification 4. We cannot obtain instructions from you 5. Your instructions constantly change 6. You fail to provide satisfactory evidence about the source of any money you send to us, in line with our guidelines. The above list is not exhaustive. If either of us ends the relationship, you remain liable for the costs and disbursements we have paid on your behalf plus any costs involved in the transfer of your file to any new legal advisers. Professional Indemnity Insurance A copy of our professional indemnity cover is available upon request.