Advice please - our solicitors don’t want to represent us anymore

user1977

LittleMax said:

Out of interest what percentage share of the house would your parents have wanted? 

They weren't wanting a percentage share of the house, they were wanting a security for their loan.

Petriix

It's one of those things where some people struggle to understand the concept of generosity and putting other people's financial needs ahead of our own. I imagine that they think coercion is the only way someone would give up their hard earned cash. Sad really.

Poppyka

Thanks all we appreciate the change in a second charge to gift has caused some concerns for the solicitors. However the reason our parents changed their mind was because our lender wasn’t responding to our solicitor regarding the paperwork needed for the charge and couldn’t say in black & white they were happy with this. 

I agree @Petriix it’s been disheartening to be made to feel this way especially as our parents offered to make it a gift to help us on the property ladder and not lose the house due to ongoing delays 

Flugelhorn

Petriix said:

It's one of those things where some people struggle to understand the concept of generosity and putting other people's financial needs ahead of our own. I imagine that they think coercion is the only way someone would give up their hard earned cash. Sad really.

I think there have been many cases on here where people have been "given" money with some expectation that it will be paid back or that there it is understood that the parent has a share in the property or that care will be provided in the future or whatever etc etc - there can be considerable problems with people wanting to appear generous  when actually they aren't

getmore4less

How did you choose the lender.

Was it through an experienced broker that was familiar with the lenders that accept second charge

Thrugelmir

Poppyka said:

Thanks all we appreciate the change in a second charge to gift has caused some concerns for the solicitors. However the reason our parents changed their mind was because our lender wasn’t responding to our solicitor regarding the paperwork needed for the charge and couldn’t say in black & white they were happy with this. 

I agree @Petriix it’s been disheartening to be made to feel this way especially as our parents offered to make it a gift to help us on the property ladder and not lose the house due to ongoing delays 

Perception will be that an unofficial arrangement has been made. As that's what people in general will do. Circumnavigating rules is a national pastime. People will resort to anything to achieve their goals. No qualms in lying. 

SDLT_Geek

Thrugelmir said:

Poppyka said:

Thanks all we appreciate the change in a second charge to gift has caused some concerns for the solicitors. However the reason our parents changed their mind was because our lender wasn’t responding to our solicitor regarding the paperwork needed for the charge and couldn’t say in black & white they were happy with this. 

I agree @Petriix it’s been disheartening to be made to feel this way especially as our parents offered to make it a gift to help us on the property ladder and not lose the house due to ongoing delays 

Perception will be that an unofficial arrangement has been made. As that's what people in general will do. Circumnavigating rules is a national pastime. People will resort to anything to achieve their goals. No qualms in lying. 

I like to think that most people are decent, but there are some, as you say (including some who post on this Forum), who seem to have no qualms about lying or encouraging others to do so.

Sandtree

Poppyka said:

We updated our solicitors  on this and explained that our parents understood the risk of not having the second charge and want to solely gift us the money without wanting it returned at any point. 

This doesn't add up... if its a gift then there is no risk.

Its a major change going from a formal and secured loan to a pure gift... most parents don't ask for security so its even bigger change. Give the language like the above it does seem like it may not be a gift but an unsecured loan that your parents are willing to call a "gift" to get round the bank situation. 

Thrugelmir

SDLT_Geek said:

Thrugelmir said:

Poppyka said:

Thanks all we appreciate the change in a second charge to gift has caused some concerns for the solicitors. However the reason our parents changed their mind was because our lender wasn’t responding to our solicitor regarding the paperwork needed for the charge and couldn’t say in black & white they were happy with this. 

I agree @Petriix it’s been disheartening to be made to feel this way especially as our parents offered to make it a gift to help us on the property ladder and not lose the house due to ongoing delays 

Perception will be that an unofficial arrangement has been made. As that's what people in general will do. Circumnavigating rules is a national pastime. People will resort to anything to achieve their goals. No qualms in lying. 

I like to think that most people are decent, but there are some, as you say (including some who post on this Forum), who seem to have no qualms about lying or encouraging others to do so.

Trouble is what one might think has no certainty. Better therefore to assume the worst. Conveyancng solicitors are rarely short of enough work to do. 

[Deleted User]

SDLT_Geek said:

Poppyka said:

Hi all
hope you’re doing ok. 

I was wondering if I could kindly have some advice. 

Our parents wanted to give us some money to help buy a house and wanted to secure their money by way of a second charge based on independent legal advice given to them. However our bank have spent 6 weeks deciding whether they can accept this so to prevent further delay our parents said they would rather gift us the money instead of it means we are able to get the house. 

We updated our solicitors  on this and explained that our parents understood the risk of not having the second charge and want to solely gift us the money without wanting it returned at any point. 

Our solicitors have since turned around and say they no longer wish to represent us because they don’t want to take on the risk of our parents gifting us the money as they’re under the impression they’ve been pressured to do this!
this really isn’t the case and they’re willing to sign all paperwork stating this. 

We’re really concerned this might impact us in trying to find another solicitor to help us complete and our bank would have concerns about why the solicitors no longer wish to work with us. 

We were able to secure a fixed rate mortgage offer before the rates went up so this will have a massive financial impact on us if the offer expires and we have to get a new one. 

Does anyone have kind words to offer on where we stand with this and can solicitors really just turn their back on you like this? Thanks in advance 

Perhaps your solicitors are concerned that the same attitude could be taken here as by a couple of posters on this page https://forums.moneysavingexpert.com/discussion/6337766/accidentally-committing-mortgage-fraud/p2 who seem to think it is acceptable to say the advance is a gift but that the family can "sort it out later"!! 

Your solicitors are presumably also representing the commercial lender and so have to look after their interests as well.  They cannot act for both parties where there is a conflict of interest.

Sanctimonious solicitors I suppose.