Do solicitors have a governing body?

TangoFiver

I'm hoping that we won't have to go down the route, but I'd like to know if there's a body with some degree of control/guidelines?

To cut a long-ish story,

We're only waiting for a 'Redemption Letter' from the vendors bank, which they must send to the vendors solicitors, who in turn send it to our solicitors.

We were due to exchange and complete on Monday (14th), but could not because they didn't have this letter.

Their bank said it would take 7 days, the 7th was yesterday and still no joy

This is causing us big problems (which I won't go into), but I'd like to report the bank to the FSA, and perhaps give the vendors solicitors a tap on the shoulder, just to let them know we're still here!

Any help/advice is much appreciated!

Joe

TangledMemories_2

There's the Solicitors Regulation Authority https://www.sra.org.uk

Pee

It used to be the law Society but is now the SRA.

You can only report your solicitor - as the vendor may be perfectly happy with their solicitor and may even have asked them to delay things. I'm sure that's not the case here, but you could see how the solicitor might be acting properly without assisting you.

Are there estate agents acting? they should give the vendors solicitors a nudge for you. Otherwise, speak to the vendors and get them to chase/ threaten SRA.

Richard_Webster

How much notice did the seller's solicitors have of your proposed completion date?

If it was so critical for the solicitors to have a redemption figure before they could exchange and complete it sounds like the seller was in negative equity or near to it. Another possibility is that there were litigation costs to add to the figure because the bank had taken proceedings against the seller for non-payment.

You have to put yourself in the seller's solicitor's shoes - did he know about whatever your issues are that cause you "big problems"? From what you have said although it might be a bit frustrating, I can't really see what the seller's solicitor has done wrong.

TangoFiver

Thanks for the speedy replies!

It's just getting very frustrating, to say we're FTB's and the vendors have no chain, we're now into our 13th week since we had our offer accepted.

I just think that people aren't being entirely honest with us, but i'm not sure who!

Anyway as I type the EA had just rang to say the vendors solicitors recieved the letter this morning.

But our solicitors had to send our mortgage money back to the bank at the close of business yesterday, and now we'll incur transaction charges (through no fault of our own). Add to that the wait for our bank to re-release the funds, it's possibly going to ba another week

The better half has an op a week on Monday, and we had booked this week off work to get moved in etc.

That was the theory anyway...


Thanks again for the help/advice,

Joe

chickmug

Richard_Webster wrote: »

I can't really see what the seller's solicitor has done wrong.

No nor can I.

OP title is perhaps silly?

Trollfever

We're only waiting for a 'Redemption Letter' from the vendors bank,

Some of the sub-prime lenders are not very good at dealing with paperwork.

Richard_Webster

Some of the sub-prime lenders are not very good at dealing with paperwork.

That's putting it mildly!