Mortgage Offer Error

Hugh_Ftb

Hello,

I have a query regarding the Mortgage Offer which I received today after 4 weeks!!

Everything was fine with the offer other than the fact the Conveyacers/Solicitors noted on the offer are different from the one's which I have instructed thus far. I've contacted the Broker today to notify them of this mistake but they have yet to get back to me.

I will contact them again tomorrow but in the meantime I was wondering what the process of having this corrected is and roughly if there is a typical time to do so?

It took a lot of work to get the offer and I'm slightly concerned that this may throw a spanner in the works.

I'm based in Scotland if this influences any outcome.

Thanks,
Hugh

GMS

Did your broker check if the solicitors you instructed were on the lenders panel?

Hugh_Ftb

Hi,

Thank you for getting back to me i appreciate this.

I cannot say that I asked them this question but certainly when i instructed them who our Solicitor's were before we commenced with the Full Application they did not state that they were not on the lenders panel.

As the mistake appears to be administrative to myself, I am not wanting to assume that this will be a straight forward change. Is the process of correcting either the Brokers or the Banks mistake straightforward or will it have quite a big impact on the offer?

Thanks for any advice or input.

kingstreet

As GMS has alluded to, the presence of your solicitor on the lender's panel will determine if this really is an error.

If this is an error and it is on the panel, it is a simple matter to have the lender replace the incorrect firm with the correct one and for the offer to be reissued.

However, if the firm is not on the lender panel, the lender has instructed the firm named on the offer to act for it, at your expense. You can retain your firm to act for you, while the lender has its own representation. The additional cost can be anything from £200 to £400 depending on lender concerned.

First job is therefore to establish if your solicitor is on the lender's panel.

Hugh_Ftb

That's excellent i greatly appreciate the clarity on this for alot of reason's. I will drop back once i have a update.

Thanks again.

Goldiegirl

It is very easy to amend the solicitors details on the offer.

If it's not an error, and the OP's solicitor is not on the panel, it would have been nice if someone had told the OP before the offer was issued!

kingstreet

IMHO broker would know more or less immediately, as lender's online system would not have allowed case to be submitted without panel member details.

Hugh - which lender is it?

Hugh_Ftb

Goldiegirl wrote: »

It is very easy to amend the solicitors details on the offer.

If it's not an error, and the OP's solicitor is not on the panel, it would have been nice if someone had told the OP before the offer was issued!

Yeah our dealing's with the Broker hasn't been fantastic or ideal but nonetheless we are quite patient as this is our first purchase and we are learning as we go along.

Hugh_Ftb

kingstreet wrote: »

IMHO broker would know more or less immediately, as lender's online system would not have allowed case to be submitted without panel member details.

Hugh - which lender is it?

Our offer is through the Halifax.

kingstreet

Halifax isn't one of the firms which normally has panel issues. If you'd said Santander, HSBC, Leeds I wouldn't have been surprised.

Your broker is going to have to sort this out. They fill the application form in online and find the solicitor's details using name and address, so it's pretty difficult to put down the wrong firm. However, I must confess to not checking one a few weeks ago and missed a change from the point the client first instructed us, when he told use he was using one firm, then decided to change to another.

It was still fixed in about five minutes though.

Hugh_Ftb

kingstreet wrote: »

Halifax isn't one of the firms which normally has panel issues. If you'd said Santander, HSBC, Leeds I wouldn't have been surprised.

Your broker is going to have to sort this out. They fill the application form in online and find the solicitor's details using name and address, so it's pretty difficult to put down the wrong firm. However, I must confess to not checking one a few weeks ago and missed a change from the point the client first instructed us, when he told use he was using one firm, then decided to change to another.

It was still fixed in about five minutes though.

Ahh that makes perfect sense and i fully understand that these things can happen especially given that my solicitors have a very similar name to those that were put into the offer letter.
I have received a email from the Broker stating that unfortunately it's not an easy fix and they will get back to me today as they need to phone the Halifax :-s.

Either way as long as it's something which can be rectified with no material impact on the offer as a whole then i im not too worried. This was my main concern when i noticed the mistake yesterday mainly as we are due to move in the start of September and the Seller's have been slightly anxious in ourselves obtaining the final offer.

Thanks,