Delay obtaining redemption figure.

nicky73

I'm meant to complete remortgage today from Leeds BS to Santander.

Unfortunately Santander mortgage has free legal with LMS who have proved slow from the off. The mortgage offer was received by them on 3 September & I asked for completion today to avoid early repayment fees. All documents received by LMS six weeks ago.

My broker has been fantastic chasing them over last few days & yesterday they assured them completion would be today. Now they advise they are waiting on redemption statement from Leeds BS. They claim they requested this on 23 Oct so I'd have thought it should be there by now?

Is this normal? It's too late now for completion today but is it worth me asking Leeds for the redemption statement? As I know the solicitor is meant to deal with this I worry this may complicate things.

Any advice appreciated. I suspect solicitor has only just asked Leeds for the statement so things will be delayed a week or so.

Thanks

davidmcn

Not sure about Leeds specifically, but lenders tend to be rubbish at issuing redemption statements and often seem to "lose" requests for them. I doubt you making a similar request will simplify matters.

Thrugelmir

nicky73 wrote: »

They claim they requested this on 23 Oct so I'd have thought it should be there by now?

Wouldn't be any earlier than this.

Unfortunately one can only take what gets said at face value. While dates are targets there can never be certainty that they'll get met. Too many factors can cause an unexpected delay. As there's only so many hours in a normal working day.

Neutrinno

This is what is expected and probably 'normal' now when you use lenders free legal services, delays are common and it is generally a much slower process. LMS in particular have been horrendous over the last 12 months.

nicky73

Thanks for the replies.

No news from the broker so they won't have heard from LMS as they are always very quick to update me.

Guess I just need to be patient & hopefully it'll go through soon.

I'm hoping to move in the next couple of years & no way will I use a free conveyancer again!! This is a simple remortgage with 2 months to deal with it & they haven't managed that. Definitely worth paying for peace of mind.

My mortgage offer runs out on 3 Dec so surely they'll sort it by then ...

nicky73

My broker called this morning to ask if solicitor has been in touch as they can't get hold of LMS. LMS had assured the broker yesterday morning that the remortgage would complete yesterday or today.

LMS have claimed they are waiting for the redemption statement from Leeds BS and so I called the Leeds NS to check they had, and if so, when it was issued.

I am not surprised to find out that Leeds BS haven't been contacted by LMS. Leeds were really helpful & said if the solicitor emails or faxes them now they'll issue it within an hour.

Of course now the issue is neither me or broker can get through to the solicitor. We've both emailed & left messages. I've also emailed the LMS Santander team to ask them to get LMS on the case.

Any other ideas on what I can do? I'm at end of my tether with this as neither me or broker can get hold of anyone at LMS to even try to sort things out.

Thanks very much

😤😤

Thrugelmir

Friday is a busy day in solicitors offices as normally completion day on sales and purchases. As an organisation appear to be priortising paid work over free legals. At least you'll never have to use them again in the future.

obay

nicky73 wrote: »

My broker called this morning to ask if solicitor has been in touch as they can't get hold of LMS. LMS had assured the broker yesterday morning that the remortgage would complete yesterday or today.

LMS have claimed they are waiting for the redemption statement from Leeds BS and so I called the Leeds NS to check they had, and if so, when it was issued.

I am not surprised to find out that Leeds BS haven't been contacted by LMS. Leeds were really helpful & said if the solicitor emails or faxes them now they'll issue it within an hour.

Of course now the issue is neither me or broker can get through to the solicitor. We've both emailed & left messages. I've also emailed the LMS Santander team to ask them to get LMS on the case.

Any other ideas on what I can do? I'm at end of my tether with this as neither me or broker can get hold of anyone at LMS to even try to sort things out.

Thanks very much

😤😤

Is this involegal?

nicky73

Yes it is.
No update from them but called Leeds BS again to see if they'd asked for redemption statement again as I asked. Shocked to be told they had and Leeds BS say redemption statement has been sent to them (only just before 3 so too late to complete today).
My broker says she's trying to speak to a manager at LMS to make sure this is dealt with & completion done on Monday.
Fingers crossed!
Whatever happens I'll be writing a complaint to LMS once this is over. What on earth would have happened if I was moving house!

Thrugelmir

nicky73 wrote: »

Whatever happens I'll be writing a complaint to LMS once this is over. What on earth would have happened if I was moving house!

You'd be a paying customer and therefore have some leverage. In cases of remortgage (like this instance). The lender is the solicitors client not you.

davidmcn

Thrugelmir wrote: »

You'd be a paying customer and therefore have some leverage.

You'd also be given priority simply because you're sitting in a removal van, as opposed to waiting for something as administratively dull as a remortgage to complete.