More 2 Life - porting application

ktgordo

Please can someone advise. My mum reserved a new build property back in August. She has sold her current property and her buyers are in rented accommodation waiting to exchange. All we need to do is port her existing more2life equity mortgage - more2 life have known about this since August but it is still not complete. We chase every day and all they come back with is they are still doing checks!? It is a new build property (I live on the same development so know there are no search issues etc) - the mortgage is only 10% of the house value so I can’t understand why it’s taking so long. We agreed 17th December as a move date but we are nowhere near. They advised we didn’t start the process until September which we did. The communication is dreadful. My mum is 74 and recently widowed after 53 years - this is already a very emotional and stressful situation and this is causing unnecessary additional upset and anxiety. Any help, similar experience would be appreciated. I have tried escalating but they will not speak to me and my mum worries this will delay things further. I may be naive to how long these things take but 4 months seems ridiculous 

MWT

When was the 'new build' actually completed and ready?

ktgordo

December 17th - we knew that back in August we had to cancel removals and everything 

MWT

Have you tried asking your mother to give them permission to talk to you about this? ... assuming she is happy to do so of course...

Since you are already familiar with the development, are there any adjacencies that would be a concern of the lender?

With equity release they can be a bit picky about anything that isn't residential close by, like retail or industrial units.

Similarly is the development still at that stage where it looks like a building site for the most part with pockets of completed homes?

In any event it feels like you need to be able to talk to them to find out what is going on so if your mother is willing to give you permission that would seem like the way to go... or even just have both of you on the phone at the same time...

Thrugelmir

ktgordo said:

December 17th - we knew that back in August we had to cancel removals and everything 

Unusual to have a precise date for a new build months in advance. What has the solicitor handling the transaction said?  Was the developer able to provide the neccessary documentation to effect a 17/12 completion. Understandable if this date was missed that it's rolled over into the New Year.