Solicitor exchanged contracts before we have a mortgage offer

hazyjo

MovingForwards said:

hazyjo said:

Did you reply to the survey question? May have missed it. Did you have one?

Tbh it's not often I'm lost for words on here, but I just cannot understand how this has happened. It just makes no sense.

OPs survey is tomorrow.

Thought it was just a valuation. Seemed strange that the OP wasn't having an actual survey. Know not everyone does, but I'm wondering if the OP and his OH have missed anything else. I agree with others that to wait this long for a valuation is crazy. I had to wait a good couple of weeks for the valuation/survey to be typed up and sent to me before. I do hope they have made the surveyor know the urgency! 

What on earth has the lender said about all this? How did they possibly miss it - they would have been communicating with the solicitor! And if they haven't, there's a whole heap more to do than just wait for a valuation.

And what if they down-value it?! Do you have spare funds?

I ALWAYS advise against bridging loans, and it could turn this into a bigger can of worms, but you really do need to consider it as an option. See what would lose you the most money! Any rich relatives who could lend you a massive chunk instead of a mortgage?

Have you actually chosen a mortgage product and paid a fee (or got a free product)? You're 100% you've gone through an actual application and not just an AIP? I'm getting so confused now so it may have been said.

pimento

ekeenan said:

I'm gathering info but the lawyers aren't claiming any negligence (naturally), however, my solicitor has been replaced with her supervisor.

This would lend me to believe that the solicitor might be at fault.
Hope you get it sorted, OP.

Jumblebumble

pimento said:

ekeenan said:

I'm gathering info but the lawyers aren't claiming any negligence (naturally), however, my solicitor has been replaced with her supervisor.

This would lend me to believe that the solicitor might be at fault.
Hope you get it sorted, OP.

I assume the OP means admitting
 The OP could always try asking the Solicitors if they wish to pony up some bridging money themselves

[Deleted User]

hazyjo said:

What on earth has the lender said about all this? How did they possibly miss it - they would have been communicating with the solicitor! And if they haven't, there's a whole heap more to do than just wait for a valuation.

And what if they down-value it?! Do you have spare funds?

I ALWAYS advise against bridging loans, and it could turn this into a bigger can of worms, but you really do need to consider it as an option. See what would lose you the most money! Any rich relatives who could lend you a massive chunk instead of a mortgage?

Have you actually chosen a mortgage product and paid a fee (or got a free product)? You're 100% you've gone through an actual application and not just an AIP? I'm getting so confused now so it may have been said.

Most conveyancing folks in my experience don't communicate with the lender until the offer is on the desk.  And with OP changing lenders the sols might have the wrong lenders details on the paperwork 

davidmcn

Deleted_User said:

hazyjo said:

What on earth has the lender said about all this? How did they possibly miss it - they would have been communicating with the solicitor! And if they haven't, there's a whole heap more to do than just wait for a valuation.

And what if they down-value it?! Do you have spare funds?

I ALWAYS advise against bridging loans, and it could turn this into a bigger can of worms, but you really do need to consider it as an option. See what would lose you the most money! Any rich relatives who could lend you a massive chunk instead of a mortgage?

Have you actually chosen a mortgage product and paid a fee (or got a free product)? You're 100% you've gone through an actual application and not just an AIP? I'm getting so confused now so it may have been said.

Most conveyancing folks in my experience don't communicate with the lender until the offer is on the desk.  And with OP changing lenders the sols might have the wrong lenders details on the paperwork 

Indeed, I wouldn't expect the lender to be involved. The fact their borrower has already exchanged isn't the lender's problem.

ekeenan

So we have notified the seller and their solicitor - they confirmed that the chain ends with his purchase from a developer (I think it's an empty property/new property). They've also said they are open to moving completion date back to give us more time, initially to Wednesday next week. They haven't mentioned anything about costs or penalties at the minute but according to our estate agents the vendor seems to be very reasonable about the whole thing.

Our Mortgage Advisors are L&C Mortgages, they've been pretty slow so I've bypassed them and went straight to the bank (Santander) and the surveyors (esurv), I managed to get through to both MD's and plead with them - they've been really great. At this point the survey/valuation is done and notes are being written up to pass to the underwriter this evening so the pressure is with the right people. I've been told by all parties that there is nothing further they need from us.

Obviously I'm working with the solicitor to move things forward but I can't help feel really disappointed and angry with the service. My girlfriend feels pretty awful about the whole thing...

Thanks for all your advice!

Doozergirl

You're doing great.  

Keep at it.  Fingers crossed this gets sorted super-fast.  

newsgroupmonkey_

Sounds like you've got this all sorted OP. Hopefully in a week or two, you'll have forgotten all about this.

Sorry to be the grammar police for the others in the thread, but should of, would of, shouldn't of and so on is just really, really poor English. Shoud've or would've. Should have or would have. If I had been asking for advice and people were using grammar like that, I'd be completely ignoring anything you said. And no, I'm not the spelling police, because everyone can't spell.

davidmcn

newsgroupmonkey_ said:

everyone can't spell.

I think you mean "not everyone can spell" 

Doozergirl

davidmcn said:

newsgroupmonkey_ said:

everyone can't spell.

I think you mean "not everyone can spell" 

Ouch 😬