HELP! Buyer's solicitor not on mortgage lender panel

debdeb12

We accepted an offer on our house back in August, after a previous sale fell through so we already had a house we were purchasing and that we simply continued with when we got a new buyer.

The buyer is a FTB and has been badly advised from the off-set. His mortgage is with Dudley Building Society, however his mortgage advisor suggested a solicitor who was not on their panel. The valuation, searches, contracts, enquiries etc have all been submitted and done, however just as the offer was about to be given last week, Dudley realised the solicitors were not on the panel and rejected them when they applied as they didn't fit their criteria.

My question is: does anyone have any experience of this happening and the time frame it took for the mortgage lender's solicitors to look over everything again from the original solicitors?

From what I understand, the buyer has simply instructed Dudley to appoint their solicitors as a third party and kept his original solicitors. So effectively paying again. His mortgage advisor is spinning our estate agent absolute rubbish to keep us thinking an exchange date is imminent but we have so much pressure coming from the upper chain who are now really frustrated at all the hiccups.

Would it be worth suggesting to our buyer that he changes mortgage advisor? Even though his mortgage application and valuation has been submitted? I really don't know what to do and I am just at breaking point with whether this is even going to happen before the end of the year at all.

Thank you.

davidmcn

No good reason why separate representation ought to add more than a few days to the process - certainly not worthwhile suggesting he start from scratch.

ritz55

I am currently going through the process where my lender is so small they always use a separate solicitor. In total I think it added around a week to exchange as the lender solicitor needs to check everything your solicitor has done.

Thrugelmir

debdeb12 wrote: »

but we have so much pressure coming from the upper chain who are now really frustrated at all the hiccups.

Not your issue to resolve. As a matter between your buyer and their lender. The lender appointing their own solicitor is the quickest way of resolving the matter now. Still time to get matters finalised before Xmas. If people are committed to achieving this deadline.