Bank issues/mortgage completion delays

babyblade41

davidmcn wrote: »

No, the funds are transferred between the solicitors. So before completion can happen, the buyer's solicitor needs to have received the mortgage funds from the lender. They'll generally need to give several days' notice of when they want the money, so if there is a short (or no) gap between exchange and completion, the solicitor may have to request the funds based on an estimate of when everyone hopes completion will happen.

If completion ends up being delayed, the solicitor should tell the lender, otherwise the lender will assume completion has happened on time and start charging the borrower as expected. So I suspect the problem here is the making of the OP's solicitor if they've omitted to warn the lender of the delay. At some point (usually after a couple of days) the solicitor would be required to send the money back to the bank.

I agree totally that it is the fault of OP's solicitor and what a fail I'd also want to find out pronto why the vendor is not able to complete

I would imagine the OP's solicitor has not kept in close contact with vendors solicitor as he didn't seem aware of a problem until quite late on.

We were supposed to complete December 7th and now the earliest will be sometime in Jan but we were all aware quite quickly that a problem wouldn't be fixed in time .

Seems a bit of a communication breakdown.. I haven't dealt with a mortgage company for many years so not 100percent sure of the process

RPH9891

babyblade41 wrote: »

I agree totally that it is the fault of OP's solicitor and what a fail I'd also want to find out pronto why the vendor is not able to complete

I would imagine the OP's solicitor has not kept in close contact with vendors solicitor as he didn't seem aware of a problem until quite late on.

We were supposed to complete December 7th and now the earliest will be sometime in Jan but we were all aware quite quickly that a problem wouldn't be fixed in time .

Seems a bit of a communication breakdown.. I haven't dealt with a mortgage company for many years so not 100percent sure of the process

The whole process has been filled with delays, and the day my solicitor tried to complete was the last day my mortgage offer was valid until it would have expired - I am now wishing it had expired tbh.


The seller has stopped communicating with her solicitor (we are no longer on speaking terms anyway as it has been a very difficult sale) so I'm unsure what is going on now.


I'm considering pulling out of the whole process but want to get this resolved first before I make any decisions of that nature.

babyblade41

RPH9891 wrote: »

The whole process has been filled with delays, and the day my solicitor tried to complete was the last day my mortgage offer was valid until it would have expired - I am now wishing it had expired tbh.


The seller has stopped communicating with her solicitor (we are no longer on speaking terms anyway as it has been a very difficult sale) so I'm unsure what is going on now.


I'm considering pulling out of the whole process but want to get this resolved first before I make any decisions of that nature.

It is so difficult isn't it especially when everyone is reliant on solicitors... have you tried talking to the sellers estate agent as they would know what is happening with their client ?

It does sound that seller is having serious second thoughts though , just frustrating you are
none the wiser and this added financial problem too

davidmcn

RPH9891 wrote: »

Okay - my solicitor has said he did make them aware but has told them again. As I have got the funds back into my account, would that make it seem that they couldn't possibly attempt this again?

Sorry, what funds? The mortgage payment? I thought it was only the deposit which had been sent to you by your solicitor - which proves nothing about how the bank are treating your mortgage account. Your solicitor should be sorting it out.

lisyloo

RPH9891 wrote: »

Okay - my solicitor has said he did make them aware but has told them again. As I have got the funds back into my account, would that make it seem that they couldn't possibly attempt this again?

Is it a Direct debit?
Can’t you cancel the DD?

ACG

I would imagine either barclays or the solicitor would need to refund you.
If it was sent back, the fault lies with Barclays.
If it was not sent back, the fault lies with the solicitor.
In any event it is not your fault and someone will put it right.

RPH9891

babyblade41 wrote: »

It is so difficult isn't it especially when everyone is reliant on solicitors... have you tried talking to the sellers estate agent as they would know what is happening with their client ?

It does sound that seller is having serious second thoughts though , just frustrating you are
none the wiser and this added financial problem too

I plan to call them tomorrow - I haven't been particularly impressed with Purple Bricks on the occasions I have dealt with them during the process but hopefully they will shed some light.

RPH9891

davidmcn wrote: »

Sorry, what funds? The mortgage payment? I thought it was only the deposit which had been sent to you by your solicitor - which proves nothing about how the bank are treating your mortgage account. Your solicitor should be sorting it out.

Yes I did mean the mortgage deposit - apologies for being unclear. I now have that back, but not the mortgage payment the bank has taken. When I spoke to my solicitor, all he said he was he didn't know when they would refund me as he has never dealt with this before.

RPH9891

lisyloo wrote: »

Is it a Direct debit?
Can’t you cancel the DD?

It is - I said to Barclays I will cancel it and their response was "well, you will fall into arrears" (I hung up on them at that point as I was in work) but I'm off tomorrow so plan to call them again with a better mindset to deal with such statements as it's farcical I could fall behind with a payment for a house that isn't under my name.

RPH9891

ACG wrote: »

I would imagine either barclays or the solicitor would need to refund you.
If it was sent back, the fault lies with Barclays.
If it was not sent back, the fault lies with the solicitor.
In any event it is not your fault and someone will put it right.

Thank you - I think I know it will deep down but I think it's been the final straw for me with a house sale that has been a nightmare for the past few months now and just the worry about the bank taking further payments. I just want this sorted and then I can decide whether it is worth all this hassle.