I am in the final stages of buying a house. My solicitor has given me bank details and requested that I send the full amount owed for the house + solicitors fees - mortgage. This totals around 120,000 so no small amount of money.
My solicitor seems to think that a direct transfer will be fine. I will go into the bank to do this and request the money be moved personally.
Does this sound acceptable, what concerns me is:
A: The solicitor could have given me anyone's bank details, is this the usual way to transfer the sum needed to cover the house minus the mortgage? (I currently have no reason to distrust them, they seem legitimate)
B: My solicitor has not told me an exchange or completion date, it seems odd to request the money before i have even exchanged contracts.
C: My solicitor wants the full amount now instead of the smaller deposit (10%?) used to tie me in to the contract once exchanged.
This is a UK property