New Build Mortgage offer extension disappeared from Lender Panel portal, completion under threat

newwalthamer

Hello all,

First time poster here even though this is far from being the first issue with this FTB purchase - this time it's really serious. I am buying a new build property which was delayed by a few months, so I asked the lender (Barclays) for a 6 month new build extension, which they offer precisely for this scenario. This was granted, and I and my soliciitor both got the updated/new offer by post a month ago.

We were supposed to exchange contracts this past Thursday, and completion has already been agreed for the 2nd of December. My moving date is set for the 10th, as my current tenancy (rental) expires on the 11th.

However, my solicitor let me know that the mortgage offer has inexplicably disappeared from the lender panel portal (portal for banks and solicitors to exchange docs), apparently, upon enquiring, the portal people said because the mortgage offer 'expired'. Somehow, the offer extension never got uploaded into this portal. Upon my strong insistence, he emailed the bank (including a 'Completions Escalations' email address they have) to sort this out. He also is hesitant to call them directly (as suggested by my mortgage broker) as he is blaming it all on the bank and says if it was with another bank this wouldn't be happening... he was basically ranting to me on the phone yesterday afternoon even though I am the one with the stress of a tight timeline and being in a difficult situation because someone else didn't do their job! He says there is no point calling as he has emailed them already; and apparently, there is no other way to proceed than the offer re-appearing on this portal.

The solicitor says he cannot move forward unless the bank fixes this, and the bank will need 'up to 5 working days' to look into it and hopefully fix it. If it does take that long, it will take us to the completion date. Has anyone had a similar experience? Should I escalate this with the solicitor firm? I'm lost and really stressed not knowing if there is enough time to fix this. I have also called the bank twice and they've emailed the internal department that processes mortgages but can do no more.

MovingForwards

What is your broker doing? Why have they not chased the lender to find out what's going on?

ironlady2022

It's the bank that needs chasing, so broker or you can call bank direct it they will speak to you

anselld

Not the solicitors job to chase your mortgage offer.   The broker should be doing it as they normally have inside contacts with the mortgage providers they use.

silvercar

We had a similar problem in getting an offer extended. The offer needs to be reissued by Barclays and that can take a few days. As I recall, the push does need to come from your solicitor.