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LunaAndBelle
Forumite Posts: 43
Forumite

I have a very strange situation and would like some advice please!
I’m a FTB and everything has moved very quickly (albeit not without some headaches). In just 4 weeks, my mortgage has been approved, survey has been undertaken, all relevant checks done and yesterday I agreed on a date next month for completion with the EA. On this same day, I received an email from my Solicitor that the company has been acquired by another but he will still personally deal with my matters. Before he can finalise the contract, I needed to instruct my broker of the new details for the mortgage offer.
They’ve never had this situation but they’ve sent the details to Halifax today. Because of the short window of the company, they didn’t know if everything has been updated their end and if they’re on the panel. I won’t know until next week apparently. The solicitor won’t proceed until the offer is changed. What would be my options if for whatever reason the new company isn’t accepted? We are in the final stages and I don’t want that anything to happen! I’m assuming my mortgage offer also still stands as I can see the rates have increased hugely since my offer.
I’m also curious if anyone can help on the next steps? From what I’ve read once I pay my deposit, arrange buildings insurance, sign the contract and sign the deed it’s all pretty quick. There are some other searches in the background but nothing major. Is my understanding correct?
I’m hoping it goes smoothly as my completion date is 17th July and the current owner has pretty much moved already!
I’m hoping it goes smoothly as my completion date is 17th July and the current owner has pretty much moved already!
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Comments
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If the new solicitor's firm is not on the Halifax panel I imagine the options are
* they apply to be added to the panel - I've heard this can be done pretty fast, though of course may vary from lender to lender, and also Halifax might refuse them for some reason
* Appoint new solicitor (for both yourself and Halifax) In ringing round for quote sask a) the quote obviously b) are they on H panel a c) how much of the work, if any, would they need to re-do, and how fast for them to read your file and get up to date/up to speed.
* remain with your solicitor for your purchase, but appoint a 2nd one just to act for Halifax. This is generally avoided due to the duplication of work (and extra cost), but in your case might be faster than the 2nd option1
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