Redemption Statement woes

[Deleted User]

So, we exchanged on 15th March with completion set for this Monday, 1st April. Mortgage monies have already been sent to my solicitor by Nationwide and everything appeared to be ticketyboo ready for the big day. But..

Last week when my solicitor sent me the financial statement, the amount she needed from me was about 6k more than I was expecting it to be. After some digging and speaking with the Nationwide it transpired that the redemption statement they had sent to the solicitor was missing the page that said 'however, if the mortgage is being ported to a new property then the redemption penalty of 'x' can be deducted'. This brought the figure down to what I thought it should be so I transferred funds accordingly.

Since then, Nationwide have faxed 4 further redemption statements at my solicitors request and each time the same page is missing. Nationwide have also (allegedly) posted a copy, sent 1st class a week ago (to the solicitor) and this has yet to arrive.

At 5.30pm yesterday the solicitor phoned me (despite me having spoken with her at 10am and being told all was in order ready for completion) that her supervisor wouldn't sign off on the transaction as they still didn't have the exact amount owing from Nationwide (this was when i first discovered that they actually still hadn't managed to competently send or receive a fax between them). I rang Nationwide but of course their redemption team were closed until Monday. The customer service advisor I spoke to could tell me what figure was required (which matched what I was expecting) but was apparently unable to email or fax any kind of confirmation at all to me or the solicitor. She told me there was nothing to do but wait until Monday morning to speak to the redemption team. This had left me feeling a little nervous and anxious over what should have been an exciting weekend!

Has anyone heard of anything like this? It seems such a ridiculously unnecessary issue. I guess my questions are... will the redemption team be able to email me a redemption statement on Monday (the solicitors have agreed they will accept a client copy even tho it goes outside of their policy). Is there any benefit in going into branch tomorrow and will I be able to obtain a printed copy off the system if I do? Or if I speak to the Nationwide on Monday in presence of solicitor will the solicitor be satisfied with the figure being given to me verbally in their earshot.

Sorry for rambling. Can't sleep and anxious! Desperate to complete on Monday and unwilling to transfer the extra money as why the heck should I!!!

getmore4less

It may go well if they start communicating early enough Monday morning.

As a back up plan can you source £6k for a few days?
If Nationwide don't need it they should refund it immediately.

What are the plans with completion?
if it rolled over to Tues would that be a big issue for either parties plans?

[Deleted User]

Yes we could transfer the 6k if we had to. And actually, the chain could cope I think.
Now its daylight I'm less anxious again! Hopeful I'll speak to the redemption team at 0900 Monday and they'll confirm by email or fax (with all the pages present) immediately. Alternatively I'll go with the 'call them from the solicitor office' idea so the sol can hear them tell me verbally what the redemption figure is.

Arghhh, it's gone so smoothly til now! 4 weeks from putting our house on the market to exchange!

davidmcn

The solicitors may well insist on the figure being in writing (given the risk is that they end up having to pay any shortfall out of their own pockets).

getmore4less

Why create your own stress when you have a simple solution.

Pay the money first thing so completion can go ahead as scheduled.

if it gets sorted solicitor sends it back same day or next day.

if not sorted nationwide refund, you complain and get a few £ for your trouble.