Solicitor/mortgage lender problem

Lionel_Thinkbag

We're FTB, had our offer accepted 3rd Dec last year. Seller going into rented - should be relatively straightforward eh? Nope.

Through london and country we were/are applying for a mortgage with Accord. who have been a PITA pretty much since the outset - ie not asking for all information needed at once, lots of back and forth stuff that could have been sorted out weeks ago. Waiting for a month after valuation to insist we get gas/timber/damp reports and then saying nothing after we sent them.

L&C recommended premier property lawyers and we initially were going to use them for the sake of simplicity until they managed to get my husbands email address wrong and then seeing the slating they got on here we decided to find our own solicitors instead.

I asked the new solicitors if they were on Accords panel and was told yes. The new solicitors details were passed on to Accord via the broker. This was in late December.

We were very happy with our new solicitors, the searches came back quickly and we were sent a list of queries that the sellers solicitor had to answer - one of which regarded the possiblity of negative equity (the property is about 30k less than similar in the area but we thought this was due to the amount of work needed) So we were waiting to hear back about that.

Now 2 weeks ago Accord said they were about to give us our mortgage offer (prior to them recieving the reports they requested from us I might add!) BUT that our solicitors werent on the panel! :eek:

I asked the solicitors and was then informed that they were on the panel but it had expired (they didnt say when exactly) and that they had reapplied and were awaiting a response from Accord.

Then Accord announce that our application is due to expire on the 10th of march and start pushing for us to use PPL who are rubbish.

Then the solicitors got back to us to say Accord had declined to reinstate them on the panel without explanation. And so they cant act for us.

I just can't believe it as we have done everything we could to get this to go smoothly. I really don't know where we stand now. If we instruct a new solicitor, knowing its possible that neg equity is involved and if thats the case the sale can't happen - we will be shelling out £1000 just to find that out. We have already spent at least £1000 so far including application fees and surveys.

We don't really know what to do. Part of me wants to tell Accord to go forth and multiply and start a new application elsewhere. I have even asked Accord if they have a list of Sols on their panel and was told "Accord dont hold a central list of firms on their panel" :rotfl:So how the hell do they have the audacity to tell me my solicitor isnt on their panel if they don't even have a list of firms who are?! How can I avoid this happening again?

So yeah any advice would be appreciated. Right now we are losing the will to live and don't even have any enthusiasm for the house any more. I have a twitching eye and my ibs has gone nuclear :rotfl:I have to laugh because otherwise I might cry.

kingstreet

Why Accord?

I can find more reasons not to use them than most other lenders.

First, lousy admin. Second, 5.99% standard rate which you could be stuck on if your circumstances change and you can't remortgage away.

Not used them for years. Not likely to do so.

Can your solicitor suggest another Accord panel firm who could act as an "agency" for them?

thequant

Lionel_Thinkbag wrote: »

We're FTB, had our offer accepted 3rd Dec last year. Seller going into rented - should be relatively straightforward eh? Nope.

Through london and country we were/are applying for a mortgage with Accord. who have been a PITA pretty much since the outset - ie not asking for all information needed at once, lots of back and forth stuff that could have been sorted out weeks ago. Waiting for a month after valuation to insist we get gas/timber/damp reports and then saying nothing after we sent them.

L&C recommended premier property lawyers and we initially were going to use them for the sake of simplicity until they managed to get my husbands email address wrong and then seeing the slating they got on here we decided to find our own solicitors instead.

I asked the new solicitors if they were on Accords panel and was told yes. The new solicitors details were passed on to Accord via the broker. This was in late December.

We were very happy with our new solicitors, the searches came back quickly and we were sent a list of queries that the sellers solicitor had to answer - one of which regarded the possiblity of negative equity (the property is about 30k less than similar in the area but we thought this was due to the amount of work needed) So we were waiting to hear back about that.

Now 2 weeks ago Accord said they were about to give us our mortgage offer (prior to them recieving the reports they requested from us I might add!) BUT that our solicitors werent on the panel! :eek:

I asked the solicitors and was then informed that they were on the panel but it had expired (they didnt say when exactly) and that they had reapplied and were awaiting a response from Accord.

Then Accord announce that our application is due to expire on the 10th of march and start pushing for us to use PPL who are rubbish.

Then the solicitors got back to us to say Accord had declined to reinstate them on the panel without explanation. And so they cant act for us.

I just can't believe it as we have done everything we could to get this to go smoothly. I really don't know where we stand now. If we instruct a new solicitor, knowing its possible that neg equity is involved and if thats the case the sale can't happen - we will be shelling out £1000 just to find that out. We have already spent at least £1000 so far including application fees and surveys.

We don't really know what to do. Part of me wants to tell Accord to go forth and multiply and start a new application elsewhere. I have even asked Accord if they have a list of Sols on their panel and was told "Accord dont hold a central list of firms on their panel" :rotfl:So how the hell do they have the audacity to tell me my solicitor isnt on their panel if they don't even have a list of firms who are?! How can I avoid this happening again?

So yeah any advice would be appreciated. Right now we are losing the will to live and don't even have any enthusiasm for the house any more. I have a twitching eye and my ibs has gone nuclear :rotfl:I have to laugh because otherwise I might cry.

Had similar issue myself in the past, bank wanted us to use their recommended solictors, a quick google told me enough not to touch them with a bargepole.


Bank then refused to give a list of people on the panel claiming they didn't keep a centralised list.


eventually found one who claimed to be on their, I instructed them only to find out there registration had expired and I was exactly in the same boat as you.


Here's what I did, I rung round every solicitor I could find, I then went into town and started knocking on doors. After trying about 30 places I had no joy as it was approaching evening had given up.


On the way home, I seen a firm I hadn't come across, I knocked on the door and YES they were on the panel!


So basically, you need to contact as many firms as possible there will some out there who are on the panel.

franklee

As you are pleased with your solicitor can you ask them what panels they are on and choose another mortgage starting from that? Unless the fees are too much to pay again? Before shelling out more fees can you ask your solicitor to get to the bottom of this negative equity issue. Also if you change solicitor what fees will they charge you? Some do a no exchange no fees you would have been told their terms upfront. If you change solicitors ask if you can still use the existing searches so you won't have to pay for those again. Personally my priority would be having a good solicitor acting for me when buying as it's a big commitment and needs to be done right.

Catti

We occasionally have this problem, when a Lender changes their rules. But we generally have a good working relationship with other firms in the area, so that one of them can act separately for the Lender if necessary. Your Solicitor should really have a similar arrangement as Lenders do pick and choose and change their criteria. We acted for Accord recently when the Solicitor acting for the buyers wasn't sanctioned by the Lender, so they definitely deal on that basis! Given that your solicitor confirmed their panel appointment, make it their problem to find a local firm who can do the mortgage work!