MA Sacked now mortgage in trouble

muckypaws

Hi all

Im so stressed and upset............ so im hoping for some light at the end of this tunnel.

Found out monday by phone call from solicitor that our mortgage had been stopped ?? we were suppose to exchange contracts that day and complete on the 25th!

phoned our MA who took over from our original MA a couple of days previous as we thought he had family issues turns out he was on suspension for some thing and has now 'left' the company.... all his cases are being reviewed ????? anyway was told dont panic dont worry mortgage is fine the mortgage company just want to confirm your details/ID/income and then everything will be okay........ the solicitor said it may hold us up on completing by a week..... so okay thats no big deal can wait a week......but still no confirmation on mortgage ...... just tried ringing MA no joy .......absolutly petrified now that mortgage will fall through ... buyer will get fed up of waiting and my lovely new to me home will fall through ........please tell me im not the only person this has happened to.........

dunstonh

absolutly petrified now that mortgage will fall through

If you have been honest in your application then you have nothing to fear. If you have been dishonest then you should fear the worse.

WellKnownSid

We had no end of problems resulting in the offer not being sorted until the day before completion - despite contracts having been exchanged! According to our solicitor this is just how the banking industry is these days - complete chaos, and nothing to worry about, which is little consolation with a house and/or deposit at stake!

As dunstonh says, if you've been honest it'll be fine.

kingstreet

Solicitors who allow their clients to agree potential completion dates before all the parties have all their paperwork in place are few and far between in my experience.

The firms I use regularly tell people they will more than likely be disappointed if they start booking removals and time off work prematurely.

muckypaws

dunstonh wrote: »

If you have been honest in your application then you have nothing to fear. If you have been dishonest then you should fear the worse.

Hi the truth and nothing but the truth .......

thanks for the reassurance chaps..........

still a bag of nerves.......... prob will be till keys are in my hands:j sure ive never had so much stress selling and buying last time

WellKnownSid

kingstreet wrote: »

Solicitors who allow their clients to agree potential completion dates before all the parties have all their paperwork in place are few and far between in my experience.

Ours had everything in place, but the offer contained a typo that the big UK mortgage company assured would be corrected so we exchanged.

The next offer came through with correct spelling but also with 15k too big a mortgage amount.
The next offer had the right amount, but the wrong product.
The next had the right product but the wrong LTV

And so on... Offer five was right though. We were still receiving offers through the post a month after completion!!!

Bloomin' work experience trainee underwriters...

saverjustice

Once upon a time when I was an IFA mortgages were simple things, lenders were on your doorstep and your clients were pretty decent people, now it seems we have dodgy mortgage advisers all over the shop. I know a few good ones but they are ruthless, you tell a fib and they will drop your case like a hot potato. The others want to charge a fee and vanish.

It is indeed a minefield and I blame regulation.

FraudBuster

and I blame regulation

and

Fourteen people, including a solicitor, surveyors, valuers and mortgage advisers, have appeared in court charged in connection with an alleged £20m conspiracy to defraud.

http://www.bbc.co.uk/news/uk-wales-north-east-wales-12769447

saverjustice

If regulation worked we wouldn't be having this discourse, would we?

LisaB1970

Sorry I have no advice to add but didn't want to read and run. However, we are supposedly getting a decision about our mortgage application tomorrow - its been a week of stress.

I hope it all goes ok for you!

muckypaws

every thing regarding the further checks has gone okay .........except they want further proof of address ??? they have had wage slips and bank statements P60 driving licence etc ............ talk about a fuss ???? looks like the exchange wont go through as soon as we liked but at least we are nearly there

thanks again for your support chaps........... valium anyone ????