Mortgage offer withdrawn - solicitors still let me sign the exchange

elliotnotts

Hi,

So after selling my property for over a year, (only actually being on the market for a month and a half) 2 sales fell through during this period.
The second time it fell through my solicitor had requested the funds from the bank and sent them back. 14th august /19th august.
The bank then updated all my barclays accounts to the address( that i didn't move to) and issued a letter to the solicitors saying i have 28 days to complete otherwise the the bank will withdraw my offer and i will have to reapply they wasn't told that they are the only party being informed of this and never told me.
The bank never informed myself or the broker (his system still said "live")

Fast forward to the 05th November (my mortgage offer is still valid till the 24th december). We sign the exchange for our new house,

then on the 07th november i get a call from my solicitors saying the bank will not release the funds due to this letter they sent out to them and i'd have to do a full resubmission. which i dont think we will get done in time (2nd december is our completion date)

My issues are:

Can the bank notify the solicitors but not ourselves or the broker? i.e what if i moved to another solicitor.
Nothing has changed in our circumstances - house is the same, purchase price is the same, Financial circumstances are the same. but they still want a full resubmission - a delay in this would effectivley leave myself and my partner homeless with 29k deposit being taken off us (the only way to pay that is to continue with the sale of our house)

After 13 hours on the phone and a day and a half of work Barclays responded to my complaint saying "we recognize there was a GDPR issue due to the address change but we cannot help you in regards to the application because it is now classed as closed" Every attempt i make at escalating the issue because its time sensitive they just say the letter being sent to the solicitor is their policy ( they wont send me policy, i have a copy of the letter) and for it to be escalated to a level 2 issue is a 25 back log.
But in 23 days ill be homeless.

Has anyone had a similar experience with their offer being withdrawn because the funds have been requested and sent back previously (for the same house)?

i just think Its crazy that there escalation process doesn't get proritised if the customer could be made homeless.

Thrugelmir

elliotnotts wrote: »

i'd have to do a full resubmission. which i dont think we will get done in time (2nd december is our completion date)

Why not. What's going to cause a delay.

ACG

Your broker needs to get on to this asap.
We had a similar issue with Barclays (not quite the same), I ended up finding someone quite high up on linkedin and I sent him a message saying it is not acceptable to request further paperwork after the CoT comes in (literally the day before completion was due to take place). Nobody in the barclays offices were listening and speaking to a call centre abroad was getting nowhere.

You will rarely see me say anything nice about Barclays but in fairness to the bloke he emailed 2 people and copied me in and we ended up completing on the monday (rather than the friday) without needing the bits of paper they had asked for. Still in breach of contract but literally 1 working day late which could have been a lot worse. You have a few weeks on your hands so no reason to not be able to get it all done.

This should be doable, but you need to get your broker on it asap.

elliotnotts

Would you think that a full re submission including house valuation, and money being released would be completed in 3.5 weeks? I'm not an expert in mortgages but my mortgage broker has said its going to be tight and to prepare for the worst.

Whats the quickest you have had a mortgage submitted, accepted and funds withdrawn? just so i can compare?

(just re-read this, i dont mean to come across blunt lol just couldnt think of a better way to word it)

elliotnotts

My mortgage advisor has resubmitted it and between him and my solicitors they are chasing it (literally just had an update over email) i tried the linked in approach but had no response, i also tried, facebook and twitter, home services, mortgage applications team and customer services.

Was there an issue with it being a day late (working day)? I.e charges?

this isnt the first time barclays have caused Chaos with my mortgage my original 2 year fixed deal came to a stop the day before because they hadnt received my decleration (they had numerous times)
if i wasn't tied in for another 3 months (4k charge) i wouldn't have ported it and gone back to them.

[Deleted User]

elliotnotts wrote: »

Would you think that a full re submission including house valuation, and money being released would be completed in 3.5 weeks? I'm not an expert in mortgages but my mortgage broker has said its going to be tight and to prepare for the worst.

Whats the quickest you have had a mortgage submitted, accepted and funds withdrawn? just so i can compare?

(just re-read this, i dont mean to come across blunt lol just couldnt think of a better way to word it)

2 working days was my quickest and it was with Barclays as well on a new build that tried to complete a few days after offer expired. Had support of a business manager who escalated it each step, the valuation was waived as the previous was still in date (yours should be too as the offer was previously valid for longer). Barclays are technically 5 working days for a full rekey according to their recent standards.

3.5 weeks shouldnt be any real issue for a broker as long as he gets it escalated and gets on it asap

if he has resubmitted it rather than rekeyed it then it might even be quicker

ACG

Completion being late meant our customer was in breach of contract. The person they were buying off was sound though and just said sometimes *insert swear word here" happens. In the grand scheme of things they can live with it so all was fine.

I have had applications start and complete in less than 28 days. There is no reason why you can not get this mortgage offered within 2 weeks. I would be speaking to my account manager and getting it escalated at every stage so it is assessed in 24 hours as it is Barclays fault. I woudl also be cross referencing it with the old application.

If you do not complete, someone could be on the hook for costs - I can not determine whose fault it is from your message but it does not sound like it is your fault. To be honest, it should not really come to that, you have enough time on your hands. There is no reason for you to not have an offer in 2 weeks, most of our offers are issued in that timeframe.

elliotnotts

Update: Thanks the guys above that commented.

Mortgage company are having to revalue the house. This is being done Thursday hopefully uploaded Friday- then fingers crossed it will be loaded on Barclays by Tuesday (they hide behind the "it take 48 to 72 hours for it to be recognized on our server" must be using a windows 95 software because i could post it quicker!

So fingers crossed that all sorted by Wednesday and the solicitor can request the money!


only took 7 days and a lot of questions from Barclays!

ACG

Good stuff. You are no doubt going to be a nervous wreck for the next week or 2, but it looks like everything should come good even if it is a bit tight.