8 weeks after remortgage settled-we owe £1500!!!

ValHaller

silvercar wrote: »

This to the solicitors or to the Halifax?

Halifax probably. And to the solicitor.

This is a messup by Halifax primarily, aided by OP's solicitor acting on behalf of Halifax.

Suppose this went to court. What could happen? Would OP be ordered to pay the money back forthwith in full? If the matter was argued correctly, it would be seen as inequitable. OP has done nothing wrong apart from trust the professionals.

The solicitor is very embarrassed about this and OP noted the strangely pally tone of the call. It might be that the solicitor makes another call where they try to put the screws on OP. In OP's position, I would be telling them it was between the solicitor and Halifax and that they had failed Halifax as their client - and suggesting that if they wished to inflict their pain on OP as another of their clients, they'd better put it in writing.

The only equitable solution is for OP to allow Halifax to have a second charge - legals at the expense of Halifax and for OP to continue paying according to the contracted schedule. And this is what a court should order - OP just needs to make the offer in writing at some stage. It just needs the right moves to ensure that any judgement to continue according to contract does not end up as a CCJ which will go on OP's credit record.

Goldiegirl

It's not so much the OP allowing a second charge.... BOI would have to allow it, as they would have to agree to the postponement of their charge.

Also, I feel fairly certain that Halifax doesn't do secured loans for non mortgage holders - even though they've messed up, they may not have systems in place to deal with this.

I wondered about a further advance on the new mortgage to repay the Halifax secured loan, with Halifax to pay any fees, plus an ex gratia payment for all the inconvenience.

ValHaller

Goldiegirl wrote: »

It's not so much the OP allowing a second charge.... BOI would have to allow it, as they would have to agree to the postponement of their charge.

Also, I feel fairly certain that Halifax doesn't do secured loans for non mortgage holders - even though they've messed up, they may not have systems in place to deal with this.

I wondered about a further advance on the new mortgage to repay the Halifax secured loan, with Halifax to pay any fees, plus an ex gratia payment for all the inconvenience.

Why???

If BOI don't allow the second charge, then tough on Halifax!

Plus the £1500 over 2 years might not be something which BOI could accommodate, so OP might end up with the £1500 to be repaid over term - which OP may not want.

You can't really say that Halifax don't have the systems, all that is missing is a security - otherwise they can cope with £1500 over 2 years. What it does to their systems is private grief for Halifax ...

silvercar

Goldiegirl wrote: »

It's not so much the OP allowing a second charge.... BOI would have to allow it, as they would have to agree to the postponement of their charge.

Also, I feel fairly certain that Halifax doesn't do secured loans for non mortgage holders - even though they've messed up, they may not have systems in place to deal with this.

I wondered about a further advance on the new mortgage to repay the Halifax secured loan, with Halifax to pay any fees, plus an ex gratia payment for all the inconvenience.

BOI shouldn't have a problem with a second charge as it is in second place to their charge. So no requirement for them to agree a postponement.

Halifax definitely still do loans - it is on their website.

silvercar

I'm not minimising the amount from the OPs point of view, but £1500 is small beer for a solicitor. Really if the solicitor doesn't want to risk a claim on their professional indemnity policy, they could easily cover the money themselves and issue a loan for £1500 to OP, repayable over 2 years...

Goldiegirl

Yes, sorry, I didn't mean deed of postponement - but I do remember a thread on here that said the first charge holder needed to agree to the registration of a second charge........ That was news to me at the time.

kingstreet

ValHaller wrote: »

This is a messup by Halifax primarily, aided by OP's solicitor acting on behalf of Halifax

AIUI the solicitor was acting for the borrower and the new lender, Bank of Ireland, not the old lender, Halifax.

IMHO, Halifax should now grant a deed of postponement, allowing the loan to continue as a second charge, if it failed to include all the secured credit in the redemption figures, or if it did, solicitor acting for borrower and BoI should accept responsibility for guaranteeing good and unencumbered title to BoI, when that was clearly not the case.

Goldiegirl

ValHaller wrote: »

Why???

If BOI don't allow the second charge, then tough on Halifax!

Plus the £1500 over 2 years might not be something which BOI could accommodate, so OP might end up with the £1500 to be repaid over term - which OP may not want.

You can't really say that Halifax don't have the systems, all that is missing is a security - otherwise they can cope with £1500 over 2 years. What it does to their systems is private grief for Halifax ...

Blimey, it was just a suggestion on how this could be resolved

silvercar

Surely at 2 months down the line, BOI's interest as mortgage lender has already been registered. I would be checking this on the deeds and then telling the solicitor that I am carrying on paying monthly for the loan. If I was OP that is.

Kippaxian1

We have today sent a letter to our new providers (BOI) solicitors - this was expressing our dissapointment in this matter. In their original letter, they said it was purely Halifax's fault but for us to send the money to them and they will deal with the Halifax to ensure everything is settled etc. Not entirely convinced that they are faultless in this, so we have also sent Halifax a letter, again expressing our dissapointment in the matter, but providing them with a copy of the letter we received from the BOI solicitors blaming the Halifax! (Only sent the letter today but I missed a call from the BOI solicitors, no doubt trying to chase up the money and to get it all completed swiftly and conveniently for them!)
Whilst this might seem a petty thing to do, effectively playing them off agaisnt other, as the "victim (for want of a better word) in this, I am only after an explanation as to how this has occured and why we only find out about it in a letter some 8 weeks after completion with a demand for £1565.00!
I have also suggested the possibility of a Deed of Postponement from the Halifax to allow us to continue as we have been doing for the past 7 years (and another 2 months after completion!) in paying our monthly installments for the remainder of the term (2 years)

Appreciate the information obtained from this thread.