Solicitor wants updated offer from broker who I have paid already

kingstreet

IMHO this case wasn't greatly suited to Nationwide. I don't think this qualifies under GBP for the reason Sarsibob stated, the loan is in excess of 90% of the market value and (IIRC) Nationwide won't accept a gifted deposit in a landlord/tenant scenario, although it isn't specifically prohibited in the criteria. I would have used Halifax or NatWest who have no issue with the scenario.

EssexHebridean

I have a feeling that the Solicitor here may have their back against the wall as it is in fact Nationwide as alluded to above who have an issue with the way the paperwork is currently being drawn up, and the purchase price is being worked out - I think this is a lender issue not a splicitor one. 

DaffyDuck316

Thank you so much for this information! My broker told me Nationwide was the only lender available to help me out with this Mortgage, so I was fearing I was hitting a dead end after five long months.

I am hoping to hear back from the Mortgage Broker, but I think in the meantime I am going to consult with a new broker who can work with Halifax or NatWest and hopefully this can all be salvaged.

housebuyer143

Any update on this? I am hoping it has all worked out for you. 

DaffyDuck316

Hi housebuyer143,

Thank you for asking,

I'm terrified I might have made a mistake. I was going to consult with a new broker on the Thursday as per my previous post, but my broker called me on the Wednesday night.

She sounded so resolutely confident that we could do things her way, she had done this hundreds of times before, it was her job, and if we couldn't persuade the solicitor to change her stance, then she could recommended a new solicitor who dealt with concessionary mortgages. And she asked if she could change the name on the mortgage application to the new solicitor. As she was telling me everything I wanted to hear, I decided to go with it. It would keep the mortgage offer alive. So I emailed the old solicitor and said I'm going to give the broker a chance and go with a new solicitor.

What I should have done when the broker was on the phone is ask for assurance that the same thing wouldn't happen again with the new solicitor. I don't want to go through the whole process again and find the solicitor disputing the Gifted Deposit application with the Full Bargain Price Application. And then I started thinking about all the posts on here, and started questioning why I got swept away in that one moment on the phone.

I emailed the broker asking for assurance on the Wednesday night, and I have heard nothing ever since. I have a quote for the new solicitor fees given to me earlier that night but no contact details so I can't contact the new solicitor either. I tried calling the broker again today and left messages, but still not heard anything.

My mate at work says my old solicitor would probably understand if I went back to them.

housebuyer143

DaffyDuck316 said:

Hi housebuyer143,

Thank you for asking,

I'm terrified I might have made a mistake. I was going to consult with a new broker on the Thursday as per my previous post, but my broker called me on the Wednesday night.

She sounded so resolutely confident that we could do things her way, she had done this hundreds of times before, it was her job, and if we couldn't persuade the solicitor to change her stance, then she could recommended a new solicitor who dealt with concessionary mortgages. And she asked if she could change the name on the mortgage application to the new solicitor. As she was telling me everything I wanted to hear, I decided to go with it. It would keep the mortgage offer alive. So I emailed the old solicitor and said I'm going to give the broker a chance and go with a new solicitor.

What I should have done when the broker was on the phone is ask for assurance that the same thing wouldn't happen again with the new solicitor. I don't want to go through the whole process again and find the solicitor disputing the Gifted Deposit application with the Full Bargain Price Application. And then I started thinking about all the posts on here, and started questioning why I got swept away in that one moment on the phone.

I emailed the broker asking for assurance on the Wednesday night, and I have heard nothing ever since. I have a quote for the new solicitor fees given to me earlier that night but no contact details so I can't contact the new solicitor either. I tried calling the broker again today and left messages, but still not heard anything.

My mate at work says my old solicitor would probably understand if I went back to them.

Ah that's such a shame. I am sure your old solicitor will take you back on as they have done almost all the work. 
Once you get it sorted, if you do end up at a different broker I would probably raise a complaint for your fees back and really extra for the stress and time this has caused. But that's for further down the line. 
I think it's easy to get swept up when caught off guard so don't beat yourself up. 

I really hope it all works out for you. I hope you come back and give us all positive news in the near future 🙏🙏

DaffyDuck316

Thanks for your kind words,

This feels like a nightmare where I could end up losing the house and all my money (if I invest in a second solicitor), and it just never seems to end. Or tomorrow I could get an assurance from the new solicitor and everything will be fine. I felt really down about it last week and then got ill, but I keep telling myself that it's not like anyone died or anything! 

I think I need a backup plan and check in with a new broker like I was planning to do last week.

Herzlos

Have you spoken to NatWest directly about what they can provide and how they want it to work? Ultimately, they are the ones providing the mortgage and the ones who'd be giving a new set of paperwork to satisfy the solicitor.

The broker helped you arrange the deal but I don't think they can do anything with NatWest that you can't.

Did you have any say in the new solicitor or is it purely through the broker? Have you signed anything with them?
If you're feeling concerned (and I would be if the broker is trying to push their solicitor on you) then you should be fine to call the old solicitor to reinstate them and tell the new solicitor you are no longer interested when they eventually get in touch.

DaffyDuck316

Another thing that was strange was the broker told me I would need a bigger deposit following on from when I had specifically asked them if they could fill in a Genuine Bargain Price application. They made it sound like the discount I received wouldn't weigh-in on my deposit at all.

It does feel like my broker is acting rather dubiously, but their company does has a 4.8/5 rating with hundreds of good reviews including people praising the broker I am working with. I think that is part of the reason why I leaned in their direction. Also the solicitor I had, they didn't specifically just work with mortgages.

I don't know what is going to happen, but that is an excellent idea to call the mortgage lender myself.

housebuyer143

DaffyDuck316 said:

Another thing that was strange was the broker told me I would need a bigger deposit following on from when I had specifically asked them if they could fill in a Genuine Bargain Price application. They made it sound like the discount I received wouldn't weigh-in on my deposit at all.

It does feel like my broker is acting rather dubiously, but their company does has a 4.8/5 rating with hundreds of good reviews including people praising the broker I am working with. I think that is part of the reason why I leaned in their direction. Also the solicitor I had, they didn't specifically just work with mortgages.

I don't know what is going to happen, but that is an excellent idea to call the mortgage lender myself.

Yes please try NatWest yourself. They have their own brokers who know their products inside and out and will be able to help you. If what you want to do is possible then they will know. 

It's definitely a nightmare situation and I wish you all the luck in getting it sorted. You pay professionals to sort this stuff and you don't expect to end up in this situation.