2nd Charge on a Property

missk_ensington

AMILLIONDOLLARS wrote:

I think some as already asked this question, who has the deposit money, your solicitors or his? and surely it would be in the best interests of his lenders to see the sale go through, to get back some of their money, rather than none!!

This is what concerns me, if your deposit and/or mortgage has been paid either a) you're repayments have already started on a house youre not in yet or b) someone else is making interest on your deposit/monies.

My Mum is better with this that me, as she practices Contract Law/Professional Negligence on a regular basis. I'll give her a call and then edit this post

goldiewil

the sellers solicitors holds the deposit money. our solicitor however served notice for us to withdraw from the contract if we dont complete by 25th august 06, at this stage we will get our deposit money back

missk_ensington

PS when did you instruct your solicitor because you say the Charge was registered 8 June, but you didn't exchange until 17th July, thus the arguement that the Charge was placed on the property late in the day is nonsense, is it not? The fact the charge went Land Reg over 6 weeks before you exchanged contracts is a bit iffy if you ask me.

goldiewil

we instructed our solicitor early May. the sellers solicitors were slow in sending documents hence the late exchnge date.

AMILLIONDOLLARS

Looks like your gonna walk away from this house then

missk_ensington

I'm baffled. I seem to think (sure I've heard it somewhere but could be wrong) that your solicitor is supposed to do a final check before exchange to make sure nothing has changed in the few weeks since, like an application for a huge shopping centre at the bottom of your garden. Some sales take 3-4 months+, so I'm sure there are provisions for that time span in between.

Are there no legal advice numbers flying around? I would get a professional opinion, as I still think your solicior has been negligent.

Who has your money?!?!?????????

goldiewil

the sellers solicitor has the deposit money. our mortgage money has been returned to the bank until we are ready to complete.

I really suspect the only reason why our solicitor gave the notice to withdraw from and get our money back is because he would like to get paid for his services and from the looks of things isnt prepared to do much to help resolve this issue

AMILLIONDOLLARS

Any word from the seller's solicitors, have you spoken to the seller direct, maybe he could borrow from family/friends. If you pull out, the house is sure to be repossessed. From the look of things I would examine your solicitors involvement from start to finish.

missk_ensington

How much is your deposit?!!!!!!!!!!!!!!!!!!!!!!!?


This should have been returned to you ages ago! If its a significant amount he sure as hell isn't gonna wanna speed things up when he's getting 4.5% on your deposit!

goldiewil

we have a 100% mortgage for the property but the sellers solicitor would not exchange without a small sum so we paid £2000 as a deposit