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shared equity
dk5294
Posts: 178 Forumite
I know this part of the forum is usually used for mortgages, but I was hoping someone on here could help me as I genuinely don't think I'd have been able to do an execution only mortgage without this page!
So mortgage offer was accepted, we received the email Wednesday, solicitor received it in the post on Thursday (my husband is his postman) BUT we had to make contact with him Friday. He then said that shared equity mortgages are 'boring and long winded'. He knew it was the LIFT scheme providing the deposit, so why agree to take it on?
Now the LIFT scheme solicitor needs to know our DOE 4wks before so he can start the proceedings for our advance and we have to have it locked in before the 7th of April or he'll lose the funding. Now yesterday husbands lawyer was very blaise about it and said "he'd get round to it". He did ask when he wanted the date of entry to be, but that was it. Does this not have to be agreed by both parties? Is a verbal agreement suitable? Does he not have to sign anything to conclude missives? There has been complete radio silence since our offer (on the house) was accepted and my husband even had to chase for that! 40+ years experience sounded brilliant, but I'm worried now.
Is shared equity really complex and long winded?? We were told previously that the lift scheme is a very simple process and it can all be done in 4 weeks. I feel like the lawyer just can't be bothered.
Is it possible to change lawyers at this point or will that slow the process even more? He hasn't even told us his fees! He just said, "we'll speak after the mortgage is approved".
So mortgage offer was accepted, we received the email Wednesday, solicitor received it in the post on Thursday (my husband is his postman) BUT we had to make contact with him Friday. He then said that shared equity mortgages are 'boring and long winded'. He knew it was the LIFT scheme providing the deposit, so why agree to take it on?
Now the LIFT scheme solicitor needs to know our DOE 4wks before so he can start the proceedings for our advance and we have to have it locked in before the 7th of April or he'll lose the funding. Now yesterday husbands lawyer was very blaise about it and said "he'd get round to it". He did ask when he wanted the date of entry to be, but that was it. Does this not have to be agreed by both parties? Is a verbal agreement suitable? Does he not have to sign anything to conclude missives? There has been complete radio silence since our offer (on the house) was accepted and my husband even had to chase for that! 40+ years experience sounded brilliant, but I'm worried now.
Is shared equity really complex and long winded?? We were told previously that the lift scheme is a very simple process and it can all be done in 4 weeks. I feel like the lawyer just can't be bothered.
Is it possible to change lawyers at this point or will that slow the process even more? He hasn't even told us his fees! He just said, "we'll speak after the mortgage is approved".
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