Re-mortgage process: Is this normal?

lesley_rod

Hi,

Sorry if this is longwinded!
I am re-mortgaging from Frist Active to Woolwich (Barclarys). It's being managed by a solictor acting on behalf of the bank, I think this might have been my mistake.
The remortgage was planned to go through on 22nd Feb and I got a letter dated 26th saying it should all conclude in the next day or two so I, stupidly, thought it had.
On Monday 10th March I noticed that First Active had taken another DD so I called them and they explained that the mortgage hadn't been paid off.
I called Barclays who said they had released the funds on the 4th March.
So I called the solictor and after calling 3 times, the usual promised returned calls didn't happen a long story of mistakes was explained.
The upshot is that Barclay's released the funds on the 4th March so are charging daily interest from the 5th, while First Active got the funds today so have charged daily interest to the 12th. The solictor are paying me back £138.46 of interest earned while they had the money but I've been paying 2 sets of daily interest, Barclays amounting to £201.18.
Although just a short term issue I've also got to find an extra £481 to pay as the funds were released at the beginning not the end as originally agreed.
The solicitor is saying that there is small print that says that the mortgage can take 2 weeks to complete and as they work for the bank not me they have no responsibility.
I've re-mortgaged many times in the past and even through the same solicitors (large firm although changed name since) but have never had as many problems (even before the end piece their system generates letters which near no relation to the actual status so I've had to call often multiple times a week to check what was going on)..
Have I just been lucky before?

Conrad

As ever if you want something free (the legals) then you better expect problems.

jill2002

No this is not normal, usually the solicitor works for both parties, but is paid for by the lender. Obviously in this case the solicitor works and is paid for by the lender.

lesley_rod

jill2002 wrote: »

No this is not normal, usually the solicitor works for both parties, but is paid for by the lender. Obviously in this case the solicitor works and is paid for by the lender.

Hi Jill,
It was a 'perk' of the mortgage offer one included free legal costs so I would have thought really should cover both but, from what they are saying, doesn't.
I've had similar free legal re-mortgages before and they didn't feel the need to make me pay to have 2 mortgages running on the same property for a week!
However on a positive note, I've managed to speak to a 'customer services manager' (although getting to speak to her took numerous calls). She's going to investigate and get back to me tomorrow. Fingers crossed!
Lesley

jill2002

The solicitor is saying that there is small print that says that the mortgage can take 2 weeks to complete

Where is this written? Is it something that you have received a copy of and signed? Both mortgages should be completed on the same day.

lesley_rod

jill2002 wrote: »

Where is this written? Is it something that you have received a copy of and signed? Both mortgages should be completed on the same day.

I'm sure this was a tactic to get rid of me, the fact they have a letter with small print that says they'll complete on a certain day but it make take up to 2 weeks if there are problems is far removed from 'you'll be paying for 2 mortgages until problems are resolved'.
I can't even find where it says that on any documentation I've had from them.
Maybe this is an unusual screwup and she was making it up as she went along.
Hopefully I'll find out something positive tomorrow, the customer services manager seemed to understand why I was complaining quickly!

Lesley