Solicitor wants updated offer from broker who I have paid already

Bonniepurple

Please write back to me.

Thanks,

(Me)

---


---
Thank you for your email.

I’m really sorry I missed our call—on Thursday I had to leave the office unexpectedly due to a family emergency and was off on Friday. I appreciate your patience and understanding.

 

Just to clarify, your application doesn’t need to meet the Genuine Bargain Price criteria as its classed as concessionary purchase for a landlord. I’ve provided confirmation from a Business Development Manager at Nationwide to support this, so everything is in order and no errors were made.

I completely understand if you’d prefer not to switch solicitors—I only suggested it as a possible way to speed things up and help move things forward for you. If you’d like, I’m happy to explore alternative lenders as well so you can keep your solicitors, it will just take longer than switching solicitors.

I’ll be back in the office on Monday, so please let me know your availability and we can arrange a time to catch up properly.

Apologies again for any inconvenience caused by my absence and thank you again for your understanding.
---

I know nothing about mortgages, but what she’s said doesn’t sound right.  A concessionary purchase FOR a landlord? That reads to me as though YOU are the landlord.  I would also be asking for a copy of the confirmation that she has as I have a feeling that she’s got nothing of the sort for the product that you need.

Tiglet2

Just been reading about concessionary mortgages from this link:

https://www.onlinemortgageadvisor.co.uk/deposits/concessionary-purchases/

Interestingly it suggests Barclays, Nat West and Halifax do offer concessionary mortgages where it is the landlord offering the discount.

OP, might be worth a read?

DaffyDuck316

It's true, I am getting a concessionary mortgage where the landlord is offering the discount. I was shocked when I saw this was available and amazed when my landlord agreed to it.

The problem I have arose from when my solicitor and the bank, Nationwide, asked for the application to be keyed in as a Genuine Bargain Price application, but for that to happen, I would not meet the affordability criteria. It feels like I have been given a mortgage offer that can never be processed.

As I told the broker, I can understand if a mistake had been made, but I have pretty much been kept in the dark for months about what is going on, and when I try to contact the broker, they always have some excuse not to talk to me. It has made me suspicious.

I think I will politely ask for the confirmation from the Business Development Manager as I have not been shown this and then I will let the matter rest.

DaffyDuck316

I think here will be my follow up message:

---
Hi (Broker),

I am sorry if I am sounding accusatory. The thing is, I have pretty much been kept in the dark about the situation for a long time, and I have tried to contact you frequently with no response. I told you the seller has been chasing me for updates and still you told me nothing.

There are people who I have spoken to who are all telling me this should be a Genuine Bargain Price mortgage. The solicitor, the bank, independent solicitors, and others.

Please show me the confirmation you have received from the Business Development Manager at Nationwide and I will accept what you are telling me. If you had showed me this a long time ago it would have saved a lot of stress and confusion.

At this time, I have sought out a new mortgage advisor, so once I have received confirmation, I hope that will draw an end to the situation with no ill-feelings.

Kind regards
(Me)

---

housebuyer143

DaffyDuck316 said:

I think here will be my follow up message:

---
Hi (Broker),

I am sorry if I am sounding accusatory. The thing is, I have pretty much been kept in the dark about the situation for a long time, and I have tried to contact you frequently with no response. I told you the seller has been chasing me for updates and still you told me nothing.

There are people who I have spoken to who are all telling me this should be a Genuine Bargain Price mortgage. The solicitor, the bank, independent solicitors, and others.

Please show me the confirmation you have received from the Business Development Manager at Nationwide and I will accept what you are telling me. If you had showed me this a long time ago it would have saved a lot of stress and confusion.

At this time, I have sought out a new mortgage advisor, so once I have received confirmation, I hope that will draw an end to the situation with no ill-feelings.

Kind regards
(Me)

---

No ill feelings but still go for your money back because regardless of what happens, they didn't get you a proceedable offer. Take it to to ombudsman if you need to. 
I don't know how they can think it's faster to get a new solicitor than to literally just apply for a new mortgage (as you are doing now), unless they mean faster for them as they don't need to do anything.

lt all sounds very strange what the broker is saying. If the BDM told them this in writing then why didn't they show this to the solicitor and resolve the issue for you 🤷‍♀️. 

DaffyDuck316

Thanks Housebuyer,

I sent a different message in the end outlining my frustrations, especially considering the amount of money I paid, and requesting a refund.

And guess what happened...

I received an apology, an escalation, and a promise of full transparency, including the messages to the solicitor and the BDM. Also the option of finding a new lender with the outlook of getting a partial refund on completion.

I feel like I should stick with the new mortgage advisor (I probably will), but I know that will cost quite a few hundred pounds in itself, so I just don't know what to do now.

At least these are good problems to face.

Bonniepurple

DaffyDuck316 said:

Thanks Housebuyer,

I sent a different message in the end outlining my frustrations, especially considering the amount of money I paid, and requesting a refund.

And guess what happened...

I received an apology, an escalation, and a promise of full transparency, including the messages to the solicitor and the BDM. Also the option of finding a new lender with the outlook of getting a partial refund on completion.

I feel like I should stick with the new mortgage advisor (I probably will), but I know that will cost quite a few hundred pounds in itself, so I just don't know what to do now.

At least these are good problems to face.

I would take anything that this broker is saying with a large pinch of salt.  Go with the new broker, hopefully you can salvage the purchase and move on with your life.  

DaffyDuck316

Thank you, I was sorting of leaning in that direction, and it's great to hear you are thinking the same thing.

Thanks to everyone who has helped me through this, I can't imagine trying to understand and get through this on my own. You have all been so supportive and helpful 

housebuyer143

DaffyDuck316 said:

Thank you, I was sorting of leaning in that direction, and it's great to hear you are thinking the same thing.

Thanks to everyone who has helped me through this, I can't imagine trying to understand and get through this on my own. You have all been so supportive and helpful 

Please report back when you have completed so we all know you got a good outcome 🙂

DaffyDuck316

Well you might not have to wait long.

The seller has posted a deadline to exchange for Next Friday

I knew House Buying was stressful but this is unreal.

My new mortgage application has been sent in for approval, so I hear there is a chance I can meet the deadline.