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Mortgage cashback - the conveyance solicitors are asking for it?
Sirinae
Posts: 4 Newbie
We have bought a mortgage that offers cashback incentive. We paid the solicitor's fee on time. Now the solicitors are writing to us, demanding that cashback, in order to complete the work...
Has anyone come across this before? Why are they asking for the cashback?
It's pennies, compared to what we've already paid but it's strange, after completion date and rather, well, odd they want that money off us.
Thank you for any insight into this.
Has anyone come across this before? Why are they asking for the cashback?
It's pennies, compared to what we've already paid but it's strange, after completion date and rather, well, odd they want that money off us.
Thank you for any insight into this.
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Comments
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Is the cashback an incentive from the lender payable once the mortgage completes?
If so its payable once the mortgage completes and it gets paid to you.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hi ACG, yes, that's exactly what it is and exactly what the bank has told me. I'm still the buyer, as far as I know.0
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Ask them what the cashback on the mortgage after it completes has to do with them.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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The solicitor will usually knock the cash back from their invoice to save messing about however, I had a cheeky solicitor who, lets say, ignored the fact he got cash back and still charged full fee.We got it back for the clients as soon as mentioned but just double check your quotes etc.
It sounds like wires may have got crossed herePoorMoon
Cleared £15,000 debt whilst being a student full time, bought a house, all whilst working full time.... it can be done!0 -
The solicitor will usually knock the cash back from their invoice to save messing about ...
Not sure what that's supposed to mean. Anyway it's not much of a cashback if we have to give it, that's my point.
ACG, yes, we're in the process of asking what they want it for. Oddly enough when we called they didn't know what we were on about...?0 -
if it comes up again i would say the cashback has nothing to do with them.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Strange as my cashback was advanced to my conveyancer and was in the completion statement.0
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