On brink of exchange - Solicitor goes on holiday without telling me?!

davidmcn

Kaius2009 wrote: »

Apparently the 5 working day thing is instructions by the lender (Halifax) has anyone heard of this before?

Lenders need a minimum period of notice for them to send the loan funds to the solicitor. In practice the periods stated are worst case scenarios and they can often get money transferred pretty much by return. The solicitor can request money in advance of exchange, but at the risk of (you) having to pay the interest/CHAPS fees to return it if completion doesn't happen when expected.

19lottie82

Speak to one of his colleagues, I'm sure they will be able to keep in the loop.

I know it's stressful but I'm sure it will all be under control.

You need to remember that although this is your main priority it won't be your solicitors! Again, il sure it will all be sorted and processed within the necessary time frame!

Brightspark87

I had to give 5 says notice to Halifax but they did say they could pay it sooner if needs be - it just covers them!

I wouldn't stress too much about solicitor holidays - mine did the same but as she didn't expect anything to happen whilst she was away she didn't tell us! She had left lots of info so colleague did get up to speed and sort within minutes.

Sure you will be fine - I know its a stressful time anyhow but at least you've got all the info etc and are ready to go.

Lavendyr

If it helps, this happened to us too - our solicitor also failed to tell us until we got the OOO message!

However, our locum solicitor was brilliant - better than the one who had been acting for us. He pushed things along more efficiently, calmed me down through some stressful chain-related issues and got us exchanged and completed.

Your first solicitor sounds a bit poor to be honest - I've never known any solicitor to advise serving notice re rental before exchange. Same re the five days thing - we had a week between exchange & completion but that wasn't for any reason other than it suited everyone best (and it is a wee bit less stressful than exchange & completion on the same day).

Don't panic!!

SmlSave

Rain_Shadow wrote: »

Why do you have to? It certainly isn't a legal requirement afaik.

Most lender, practically all, state that that need five working days to process the release of funds. It can be done quicker but the banks won't guarantee it and just imagine if contract was fixed and the money wasn't available!

If money is ordered and it needs to be returned then it reflects badly on the firm of solicitors so they try not to do it.

Very few clients are happy paying the mortgage interest if the money is sat in the solicitors back with no set completion date

Rain_Shadow

SmlSave wrote: »

Most lender, practically all, state that that need five working days to process the release of funds. It can be done quicker but the banks won't guarantee it and just imagine if contract was fixed and the money wasn't available!

If money is ordered and it needs to be returned then it reflects badly on the firm of solicitors so they try not to do it.

Very few clients are happy paying the mortgage interest if the money is sat in the solicitors back with no set completion date

So you don't have to.

Kyresa

Rain_Shadow wrote: »

So you don't have to.

No, but if you want to take the risk of breach of contract and funds not being available, then that's your look out and I certainly wouldn't exchange on a "lets hope it's all ok" basis without a waiver letter from the client!!

I'd order money then as soon as it had arrived (if it was in two days, then great) would do a simultaneous. Not exchange and hope for the best!

Richard_Webster

And yes, at my solicitors advice, we have put in notice on our flat to be moved out by 3rd November.

Did she really advise that? I would never have advised anyone to give notice until contracts had actrually been exchanged!

Kaius2009

She did indeed, I emailed her and asked her specifically, and she said yes that would be fine as we would definitely be exchanged/completed by then!


Just heard from 'the man' - no progress. They're waiting to hear back from vendors solicitors in order to exchange. I don't want to sound like I'm undermining the work that he's doing...but would it be totally unreasonable to contact them myself? I feel like no one is quite grasping the urgency, maybe I can help them come around to my way of thinking.....?

davidmcn

Kaius2009 wrote: »

would it be totally unreasonable to contact them myself?

Yes. They won't talk to you. They're not allowed to talk to you if you have your own solicitor. If anything it'll just irritate them. If you want to try chasing someone up, do it via the estate agents.