Full repayment of Equity release mortgage issues

NJ10

My partner's mother passed last November leaving an Equity Release mortgage. Probate has been granted and we now want to repay the mortgage. We are using a solicitor. However, there have been delays getting the final repayment figure. More2Life do not respond quickly. They were due to provide the repayment figure last Thursday and advised the solicitor that it was sent by email. The solicitor has no trace of receiving the information. We now have to wait another 48 hours before a second repayment figure can be provided. Of course, the repayment figure is increasing daily.

I am increasingly concerned that these ongoing delays and lack of urgency could continue as there is no incentive for More2Life to provide the figure. The solicitor has advised that they will chase this time. My partner is very stressed. I want to complain about the delays to someone/anyone!!

Any advice please?

Brie

first place to start is their own complaint process and then if you are not satisfied you can escalate it.

more2life.co.uk/customer/get-in-touch/making-a-complaint

MWT

NJ10 said:

They were due to provide the repayment figure last Thursday and advised the solicitor that it was sent by email. The solicitor has no trace of receiving the information. We now have to wait another 48 hours before a second repayment figure can be provided. Of course, the repayment figure is increasing daily.

When was the repayment figure first requested?

I can understand the delay is frustrating, but it sounds like you are only one week past the original expected date right now?

Once you do get the figure and complete the payment, If the delay has caused a material increase due to interest then a complaint after settlement is probably the way to go.

NJ10

Thank you both for the advice. I am very pleased to state that the payment has been transferred to More2Life this morning. My partner went and ‘camped’ in the solicitors office. They were going to chase up after lunch. He asked them to telephone at 10am and to check the email address used by More2Life. It transpired that the email sent on 6/3 was typed incorrectly and was the reason for it not being received. As I’m sure you can imagine my partner is hugely relieved. I will suggest that he considers a complaint about the additional interest over the past week. Also to check about previous delays in correspondence and any impact financially. Thanks again.