Longest ever remortgage?

Brighty

Hi guys

Just wanted to share and see your thoughts on what I think could be a record for the longest most drawn out remortgage in history. It’sthe first time we have remortgaged so don't know whats normal, but really didn’t think it could take this long.

16th Feb – Go into Nationwide to discuss remortgaging to them, decide to go ahead and get dip and give them all supporting info. Can’t do a full application as their online system went down.

2nd Mar – Finally get an appointment to do the full application, but as we were away for the weekend we did it over the phone,took 5mins of him asking questions he had already asked the previous time. He then posts us the app to sign and post back.

27th Mar – Application finally in after having to correct some errors on it and us going on holiday inbetween. Survey was a few days after this and all fine. Happy at this point that things are moving along nicely.

Silence

24th May – After giving the NW man numerous prods in the last 2 months he finally says underwriters want more info, copies of tenancy agreement for our rental properties, which they already had. So I gave him more copies.

Silence again

19th Jun – Phone call to say we have an offer and it’s in the post. Yay, at last we're getting somewhere.

More Silence

16th July – Email from NW appointed solicitor to say our case manager had changed, never had any contact with the first one. Used that opportunity to ask them where things are. Reply next day that they are awaiting final redemption figure from our current provider but will chase it.

Silence yet again

And there we are, so far a total of 5 month since we first went in and no end in sight and another payment to Natwest on their SVR in a few days, grrrr.

So, is that a record, or is this common?

Cheers

Brighty

samuki

Hello fellow MoneySavers,
Interesting post as I had a very similar experience with Nationwide. Admittedly the problem seems to be with the solicitors appointed by Nationwide, Breezeplus Solicitors. A brief synopsis:
08/03 - Application made
11/03 - Solicitors appointed
28/03 - Valuation received & approved
26/04 - Mortgage offer issued
11/05 - I didn't hear anything from the solicitors until I contacted them on this date to get an update. They were waiting for a payment of £150 to get deed of postponement. They didn't call, email nor write to me about this. Cheque and letter sent same day.
07/06 - I didn't hear anything again until I contacted them to get an update. Apparently they received my letter but 'misplaced' my cheque. They didn't call, email nor write to me about this. Made payment by debit card over the telephone on the same day.
21/06 - contacted Breezeplus again and was told deed received and that the application was in process.
03/07 - called again and told that the application was in still process.
12/07 - called again having not received any communication. I raised my grievances with them expressing my anger and disappointment in the way our entire case had been handled. In addition, I requested that somebody contact me on the same day to discuss my case. You guessed it.......no one called!
16/07 - called again. Case handler, nor senior manager was available. Left message.
17/07 received call from solicitors apologising and offering compensation.
20/07 text received stating completion date set for 29/07.
29/07 - Completed
I can only sympathise with your predicament. I have put all my grievances in writing and waiting for a reply. I copied both Nationwide and to LMS (I got their details from Nationwide when I asked to whom I should complain about Breezeplus).
I certainly wish you the very best of luck.

Brighty

I knew posting this thread would make things happen.

Missed call yesterday with voicemail that i only picked up when i finished work at 5. It was the solicitor saying we were supposed to complete yesterday, but they hadn't received the shortfall funds from me. Completion? Some communication would have been nice, such as you are completing, how much the shortfall is, who i should send it to and how i should send it?
Anyway, rang them this morning and have now transferred funds, so should be on for completing today.

What a shambles their communication is

Phew, hopefully sorted now though.

Question though, what happens to my normal mortgage payment that went out of my account today to my old lender? How.when do i get that back?

Brighty

amnblog

Legal teams provided for free by lenders are squeezed to within an inch of their lives on price.

As a result they are not well resourced and these issues occur regularly.

You get what you pay for.

samuki

In reply regarding the mortgage payments, I'd recommend contacting both your new lender and old just to check what will/should happen.
Regarding solicitor choice, a certain level of competence is required for conveyancing, hence putting my complaint in writing and sending it to all relevant and related parties.