Solicitors cancelled my mortgage!!

billielouisea

Hi all,

I hope someone can help me.

I recently completed my purchase (21st February) but not without a few bumps along the way! 

There have been problems with the solicitors using the wrong fees in my original quotation which is one thing but the main issue for me is this - 

It became apparent the day before we were due to complete that the solicitors had sent the wrong paperwork back in October and this had prompted Halifax to cancel my mortgage. 

My mortgage advisor managed to go right up the chain at Halifax and get my mortgage reinstated so we could complete on the 21st, however I now have a higher interest rate after my initial 2 year fixed term.

My rate has risen from 3.59% to 3.99% which means that over to course of my mortgage I will pay £7,070 more than if they had not cancelled my mortgage! 

What would you do if this was you and do you think I should receive any sort of compensation for this? 

onylon

Do you really intend to stay on the higher rate? It's rarely the best option unless you are no longer able to get a mortgage eg. job loss or negative equity. Typically you would shop around and find a better deal at the end of your fixed term.

I think you should make a complaint to the firm but you haven't suffered any loss so I doubt you will get much compensation, if any.

user1977

What do you mean by "sent the wrong paperwork"?

housebuyer143

You could probably argue and get the 0.4% back over the 2yr term, but anything else is a pipedream as most people remortgage after the fixed term. 

billielouisea

Hiya, 

I know that the likelihood is that I would shop around and look for a better rate, however if my situation changes and I cant obtain a better rate then I will be out of pocket based solely of what the solicitors have done. It just doesn't seem right to me 

User1977 - Halifax requested some information in regards to the ground rent and the solicitors gave the wrong information. Halifax advised that they can no longer support the mortgage based on what the solicitors told them about the ground rent. 
I cant recall exactly what was said but the end result was Halifax cancelling my mortgage. 

elsien

billielouisea said:

Hiya, 

I know that the likelihood is that I would shop around and look for a better rate, however if my situation changes and I cant obtain a better rate then I will be out of pocket based solely of what the solicitors have done. It just doesn't seem right to me 

User1977 - Halifax requested some information in regards to the ground rent and the solicitors gave the wrong information. Halifax advised that they can no longer support the mortgage based on what the solicitors told them about the ground rent. 
I cant recall exactly what was said but the end result was Halifax cancelling my mortgage. 

Ifs and buts. You can’t request compensation for something that hasn’t happened and which may never happen. 

Well you can, but no one  will take it seriously for a speculative potential loss 2 years down the line. 

The chances of you staying on the variable rate with the same provider for the full mortgage term are quite remote. 

Thrugelmir

Seems your mortgage would have been cancelled whatever. Once the Halifax became aware of the full facts. One assumes that this occurred when the Halifax reviewed the full submission from the solicitors. 

p00hsticks

billielouisea said:

User1977 - Halifax requested some information in regards to the ground rent and the solicitors gave the wrong information. Halifax advised that they can no longer support the mortgage based on what the solicitors told them about the ground rent. 
I cant recall exactly what was said but the end result was Halifax cancelling my mortgage. 

So the solicitor didn't actually cancel the mortgage as your thread title says - they supplied some incorrect information to Halifax which led to Halifax themselves cancelling it (pedantic, maybe, but it helps to be accurate in these things) 

billielouisea

p00hsticks said:

billielouisea said:

User1977 - Halifax requested some information in regards to the ground rent and the solicitors gave the wrong information. Halifax advised that they can no longer support the mortgage based on what the solicitors told them about the ground rent. 
I cant recall exactly what was said but the end result was Halifax cancelling my mortgage. 

So the solicitor didn't actually cancel the mortgage as your thread title says - they supplied some incorrect information to Halifax which led to Halifax themselves cancelling it (pedantic, maybe, but it helps to be accurate in these things) 

Yes that is correct, apologies if the subject was misleading but the end result was that that mortgage was cancelled base on what the solicitors had done  

kingstreet

billielouisea said:

My rate has risen from 3.59% to 3.99% which means that over to course of my mortgage I will pay £7,070 more than if they had not cancelled my mortgage! 

What would you do if this was you and do you think I should receive any sort of compensation for this? 

That's the follow-on rate and it would have changed as the base rate increased; not because of anything your solicitor did.

billielouisea

Thrugelmir said:

Seems your mortgage would have been cancelled whatever. Once the Halifax became aware of the full facts. One assumes that this occurred when the Halifax reviewed the full submission from the solicitors. 

No this is not correct, the mortgage went through fine once they had the correct information. It was cancelled because the solicitors gave the bank incorrect information