What's their motivation - Solicitors and lack of action re LISA

asm89

Hi,

I'm stressed about the whole purchase, being a FTB and because of many ups and downs so far in the process, so perhaps I'm just paranoid and extremely impatient....

I've been trying to purchase a flat since early August, my initial purchase fell through at the end of October due to issues with the flat and cladding, but I quickly found another one (SO new build, ready to move in)

Cut to last week of November, I get a mortgage offer, and return a new LISA declaration to my solicitors to progress so they can get the majority of my deposit funds asap. They initially processed a LISA form for the initial property, but I had that cancelled when I realised the initial purchase was going nowhere.

Over the last couple of weeks, I've returned all signed forms and according to my solicitors we are ready to exchange and complete once they receive my deposit (their words, confirmed by email this morning to all parties). I've made it clear for a couple of weeks, that I'd like to complete before Christmas and have suggested a date on their request (as they've said pre-Christmas is possible), and the HA has also confirmed this is okay with them.

The problem is, Skipton still have not received my LISA declaration forms from the solicitors. I'm aware we are cutting it fine with a pre-Christmas exchange and completion, so i've asked the solicitors many times over the last 2 weeks (in the midst of other communications about various forms), to please send the LISA forms or to confirm when they are sent, so I can chase Skipton to release the funds asap.

However, the solicitors have stopped responding to my questions on the LISA (while answering other questions)...or have just been vague in their response when they have answered e.g. "We will send the LISA forms in good time for completion" - this was last Monday.

Are they intentionally trying to delay my exchange/completion?

ReadingTim

No, they're basically telling you to shut up, stop bothering them, and let them get on with their job without you trying to micromanage the whole purchase process.

I think you need to take a deep breath and chill out about this, but that you might want to manage your expectations about a pre-Christmas completion - have a nice mince pie instead!

asm89

I'm actually fine with a post Christmas completion, I expected this, until they told me pre-Christmas was possible. I just need them to manage my expectations around this. It's either possible from their perspective or not, then i'll happily let them get on with it.

It's the lack of response that's irritating, especially given their response today that they just need my deposit - when it's in their hands, and they've taken no action.

Tiglet2

Considering the average for leasehold purchases is around 12 weeks from draft contracts being received, I think you are delusional if you think your purchase from end of October to completing say 20th December is possible.

Chill out, enjoy Christmas where you are and look forward to enjoying your new home next year. As a FTB, you don't have anyone below you and no real pressing need to move quickly other than your personal preferences, but there is a legal process to follow and your LISA is a way off being needed.

While you may be impatient, it is not in your best interests for the solicitor to cut corners to suit your timeframe without doing their due diligence in working for you in finding out as much as possible about your purchase and the deal you are making.

asm89

Tiglet2 wrote: »

Considering the average for leasehold purchases is around 12 weeks from draft contracts being received, I think you are delusional if you think your purchase from end of October to completing say 20th December is possible.

Chill out, enjoy Christmas where you are and look forward to enjoying your new home next year. As a FTB, you don't have anyone below you and no real pressing need to move quickly other than your personal preferences, but there is a legal process to follow and your LISA is a way off being needed.

While you may be impatient, it is not in your best interests for the solicitor to cut corners to suit your timeframe without doing their due diligence in working for you in finding out as much as possible about your purchase and the deal you are making.

Did you read my initial post....i'm ready to exchange - in the words of both solicitors. All enquiries, raised and satisfied, all documents signed and returned, so no the LISA isn't way off being needed, in their words it's the only thing holding up exchange.

I appreciate 8 weeks may be fast but in this scenario, not impossible, it's a new build that's ready for occupation, so that generally makes things somewhat less complicated. A lot of new builds exchange within 28 days...completion is what gets dragged out if the property isn't ready yet.

bobobski

We had the same thing with our solicitors when we bought - they completely dropped the ball re the LISA even though I had mentioned several times from the beginning that Skipton needs (I think) 28 days' notice for drawdown. I put it down to the lawyers never having dealt with a LISA before (they kept referring to it as a help to buy ISA). So I'm with you on this one - you need to know that they've sent the forms to Skipton (who, by the way, can expedite if you nag them!).

diggingdude

Keep nagging them. I was the first LISA my solicitor had dealt with. Kept calling it a H2B ISA. If it wasn't for my pushing i would still be waiting

asm89

The funny thing is they dealt with my LISA previously for the first property. Sent the forms in good time but that fell through so the forms were cancelled. So they know what they are doing, so this is all baffling hence my suspicions it's a delay tactic.