Feels like I've been mugged by my own solicitor - buying.

nachi

On Monday this week, I paid my solicitor a big desposit on the price of the house I'm buying, plus the mortgage was paid into his client account that day too. Signed on the dotted line and took home a photocopy of the inventory feeling a little like I had handed over in excess of £200k and got, well a photocopy of an inventory.

First thing yesterday, Tuesday, I get a call from my solicitor to say that the vendors' solicitor hadn't received the probate which was granted last Friday (I am buying from the executors of a will). The Probate Office send it out second class post. My solicitor said this was the first he knew that they didn't have the probate. Surely he should have checked before he got me to sign the contract and hand over the dosh on Monday?

Today, Wednesday, I patiently waited for the phone to ring, boxes around everywhere. 11.30 I called my solicitor. Busy with another client he would call me back. 12.30 I had to call him back again, he still hadn't phoned. And got the same story - he didn't know they hadn't got the probate. Waiting for their solicitors to call him back - he would get in touch with them and call me. He didn't call all day and unless there are pigs flying over a blue moon then this is going to be the third day I have wasted.

This is the third day he has had my money, that I have paid a mortgage for a property that I am not in, that I have lost work, that I have had people to help me move, that I have had vans arranged, builders waiting to go round.
Oh yeah, and the third day since I paid my solicitor's fees which were included in the total. And the stamp duty too. Jeez.

I was told absolutely nothing today and was only informed that contracts haven't been exchanged yet when I asked my solicitor.
Meanwhile all that money is earning interest in my solicitor's client account.

Am I entitled to reclaim that interest and the interest on the mortgage, at least? I still don't even have the peace of mind of knowing that property is actually mine.
Right now it feels like I've been mugged big time.

There was an old woman who lived in a photocopy...

Heth_2

Why did you pay him the mortgage before exchange of contracts?

nachi

It was supposed to be exchange and complete on the same day - Monday - and he got me to sign the mortgage agreement at the same time.

He said yesterday that it would be too much hassle to return the mortgage. Not a word about returning my hefty deposit though.

FTB83

A colleague of mine bought a house very recently and she had paid the money for her new house to the solicitor (no mortgage involved, just a straight transfer from the sale of her old house), there was a delay between this and completion, but as soon as the sale had completed, her solicitor gave her a cheque for the interest her money had earned whilst in the solicitor's bank account, she didn't even have to ask.

I'm not sure if it is a legal obligation, but it is technically still your money I think and I would certainly ask the solicitor whether they intend to give you your interested upon completion. Also, doesn't the clock start ticking on your repayments as soon as the mortgage company release the funds?

F_T_Buyer

Yes, you are entitled to interest. This should be clear in the contract you [should have] signed with your solicitor. Make sure you ask for Interest!

nachi

Thank you everybody.

Especially for reading the tediously long post!

I will indeed be asking for the interest back, makes it easier when you know that you're entitled to it. And I do think the mortgage repayments must have started. The mortgage company paid the money on Monday after all.

Mikeyorks

You are entitled to the Interest - but nett of tax.

But I don't see how you can reclaim the Mtge interest as it's one of those cases where pinning the tail on the guilty Donkey is hazy. But as its played with a blindfold - you could get Solr / Vendor / Vendor Solr all bent over and give it a go?

Probate Office not willing to issue a duplicate to a courier organised by your Vendor? Or is it a bit too late for any inspiration from that side - as the post will presumably arrive tomorrow(ish)! No goodwill gesture as the house is presumably empty etc etc etc?

Personally - would now be camped in my Solicitor's office. Amazing how the 'personal touch' sometimes generates innovation in a case where all the experts suddenly decide their brains are tired.

Bossyboots

You are not entitled to interest if it is less than £20 or the money is held in the client account for a week or less it is fair and reasonable to pay it. If they are anticipating paying the funds out any day now, I don't think they will accepting that it is fair and reasonable to pay the interest. All you can do is ask.

nachi

The latest is that the solicitors vendors lied about having the Probate.
And they reckon it could be Monday now.
Unbelievable.
I am going to have to get on my own bike and go down to the Probate office this afternoon if I have to.
Most annoyed at my own solicitor.
And as for good will, well they've been asked but won't let me move in till they have the Probate - they think they would be breaking the law.

hazeyj

Can you not insist on the seller or his sols to pay for the document to be courierd to your sols given your situation. Its the least they can do really given the circumstances. Good luck.