Its not that common now, I think because of two major reasons. Firstly because the means of transaction and contract has changed overtime; a lot of this work is done electronically which makes the contract strong and legally binding. Although its not illegal but we can’t deny that it is still unfair and we do need to stick by some moral values. Secondly, this practice is more often followed in slow property markets and clearly I don’t see anything slow happening these days. It might still happen if you are being ignorant or unaware so do all you can to keep the process moving along as quickly as possible. This means being in regular contact with your mortgage broker and conveyancing solicitor to ensure they respond quickly to requests for information.