Solicitors Withholding funds

cogsy1976

Hi all,
We completed on our house sale last Friday the 20th but are still awaiting circa £13k which is due to us following completion we have chased the solicitor numerous times and have been told that they are still awaiting confirmation that the mortgage and secured loan have been repaid.

Is this normal?? last time we moved we had a cheque the same day from our solicitor..

Surely they know whats to be repaid etc as they asked for updated redemption statements on the day of completion anyway.

Help we desperately need this money and are getting nowhere

Mossfarr

Have you tried contacting your former mortgage company and loan provider to confirm the accounts have been settled?
If they haven't you need to know why. If they have been settled then ask them to email confirmation to you and your solicitor. I would also hand deliver a copy to your solicitor. If they still don't release your funds report them to the law society. I would also consider sueing them for the lost interest!
When I sold my first house (many years ago) my solicitor refused to release my money for a couple of weeks (no reason given), in the end I sat in their office and refused to leave without my cheque. I got it at the end of the day because the staff were complaining that they wanted to go home!

Thrugelmir

cogsy1976 wrote: »

Is this normal?? last time we moved we had a cheque the same day from our solicitor..

(

Your solicitor couldn't have been handling many transactions that day.

G_M

They have a duty to ensure your debts are paid out of the sale proceeds so that's what they seem to be doing...

cogsy1976

To be honest i stupidly chose an online cheapo one wish i hadnt! I appreciate the fact they have to make sure debts are paid but surely thats done on completion and they shouldnt complete until sure anyway?? Also they have had letters from both lender and secured loan faxed through twice now....

matttye

cogsy1976 wrote: »

To be honest i stupidly chose an online cheapo one wish i hadnt! I appreciate the fact they have to make sure debts are paid but surely thats done on completion and they shouldnt complete until sure anyway?? Also they have had letters from both lender and secured loan faxed through twice now....

They don't need a letter, they need a form DS1 confirming the mortgage has been discharged.

davidmcn

matttye wrote: »

They don't need a letter, they need a form DS1 confirming the mortgage has been discharged.

Which the lender is obliged to provide if they've been sent the sum they put in their redemption statement. I've never heard of solicitors holding onto the whole surplus until they get the discharge, often of course there isn't a surplus anyway.

matttye

davidmcn wrote: »

Which the lender is obliged to provide if they've been sent the sum they put in their redemption statement. I've never heard of solicitors holding onto the whole surplus until they get the discharge, often of course there isn't a surplus anyway.

A solicitor undertakes to discharge the mortgage and can be sued if they don't, so it doesn't surprise me that some might want to hold onto the money until such time as confirmation of discharge is received.

Agreed though that the lender is obliged to send the DS1 (or electronic version).