Remortgage - Optima Legal

loonywitch

Looking for advice to get them to pull their finger out really.

Started the remortgage process back end of November to move to new lender. They instructed Optima. Welcome back and portal log in details received, info completed at earliest possibility (Early Dec) - so far so good. 

Whilst completing this info, informed them landlord is absent but we have insurance policy to cover this. Also advised existing deal with current lender does not end until 31st Dec and cannot leave without penalty before then. Informed earliest date for completion would be 4/1/21. It all seemed straight forward and was apparently too good to be true.

Issues then started:
15/12 - Redemption statement requested (apparently system generated). On receiving, early redemption penalty listed on charges. Speak to Optima who confirm another will be requested closer to date.
29/12 - notice redemption statement updated and charge of £25 added for 2nd request
29/12 - copy of Absentee Landlord policy requested despite me advising on the portal early on and on the phone to an advisor. Copy sent approx an hour after request
4/1 - completion date still not set and payment due.

I’ve chased several times since then on the portal (no response) and via phone (apparently just a lip service). Last week a third redemption statement was requested (presumably another £25) with proposed completion date of 25/1. Rang Existing lender who said they are dealt with in date order but if Optima rang, they could request it expediting....which allegedly they do not have the facility to do.

Existing lender have since confirmed that the redemption statement was sent but advised by optima I need to wait 48hours for it to be loaded onto the system as they’re not in the office but at the same time the advisor told me that the Absentee Landlord Insurance document hasn’t been checked!

I’m at a loss how to push this forward. I’m getting charged for new redemption statements because they’re requesting when not ready, I’m due a 2nd mortgage payment going out on the SVR on Monday which is £100 more than I budgeted. And the daily interest rate is around £18. I appreciate we are in the middle of a pandemic but a quick google tells me this is completely the normal for these guys.

Responses via the portal are virtually non-existent despite their prerecorded plea to use this facility. I’ve tried emailing a complaint in but no response to this either. 

I am beyond frustrated. This is the first time I’ve remortgaged and for something that must happen so frequently, I can’t believe how long it is taking. Is there anything I can do to push it? It’s completely unacceptable that they are requesting redemption figures without everything being checked

K_S

@loonwitch If it's of any comfort, you're not alone. 95 times out of 100, "free" lender legals lose clients far more money than they ever save because of delays and !!!!!!-ups. I always, always advise remo clients to pick cashback over free legals and instruct their own conveyancer.

The only things you can do to push it is formally complain to the lender and Optima.

loonywitch

Thanks! I will definitely take that on board for the next remortgage! Honestly beginning to think selling and buying was easier than this! 

I will ask Optima for their formal complaints process later when I call....I won’t hold out hope for a response tho. Hopefully the lender will be able to do something! I’d say I hope they won’t renew their contract with them but it looks like they’ve used them for some time

RelievedSheff

This is the reason that we have started our remortgage process well in advance of our current mortgage fixed rate running out. We know that the free legals teams are not the quickest so we have given them plenty of time to do their part of the job. We got our mortgage offer on the 15th January and our current deal with our current lender does not expire until the 2nd May.

loonywitch

Another lesson to be learned although part of it was a misunderstanding on our part. Initial deal was for 2 years and stupidly assumed it was 2 years from when we completed rather than offer. Wasnt until our mortgage advisor pointed out that I actually checked 

davidmcn

loonywitch said:

I will ask Optima for their formal complaints process later when I call....I won’t hold out hope for a response tho. Hopefully the lender will be able to do something! I’d say I hope they won’t renew their contract with them but it looks like they’ve used them for some time

Assuming Optima are only acting for the lender, it's the lender you complain to - Optima aren't your solicitors.

loonywitch

Your assumption would be correct

lonibra

Optima! Gives me nightmares. They messed up a simple rental remortgage for which I gave them FOUR months time. On the day prior to completion they asked for documents that I had given ages ago. And then took another 6 weeks to get the job done. Horrible.

I had to complain to them. Sent a message on their useless portal titled COMPLAINT in bold. That was the only action which led to someone actually calling me and getting things moving again.

loonywitch

I’ve already emailed a complaint in and didn’t even get a response. I’ve just been placed on hold twice (diff people) and been cut off! Argh!

Latest is they haven’t received out redemption statement. Apparently the case handler rang Monday afternoon to chase it after I called them to be told they were still within the turn around time....however I called Platform before I spoke to them and was advised the date/time the statement was sent, to which fax number and the amount it was for. I told them this when I rang but clearly it wasn’t noted correctly or the case handler has read the notes fully otherwise you’d surely call the office?!

K_S

@loonywitch If you haven't already, I'd lodge a formal complaint with Platform Halifax as well.

loonywitch

I don’t believe Platform are the issue at all. They’ve sent the other redemption statements so I can’t see why this would be an issue. 

Unless you mean with the new lender? Which would be Halifax. I will definitely be doing this. I’m waiting to see if the agent I got cut off from calls me back...she was phoning Platform after gaining permission to do so