Why is it never simple?

notisis

On last 3 remortgages with free legal work the service has been very good. My brother's remortgage in January again was very good with free legal - the solicitor there picked up on stuff his original purchasing solicitor had missed.

Neil was the 6 not completing due to the fact your customers were in fact selling/purchasing rather than remortgaging, and exchange had not yet taken place?

Sorry but having worked in conveyancing for a number of years (not now IT side of legal work) and then working in an estate agents plus mortgage brokers I did experience that a number of EAs and brokers in fact did not fully understand the legal process and the subtle differences of exchange and completion! Other half now working for a firm of compliance networks for brokers and still overhear the same misconceptions on what actually happens during a conveyancing/remortgage process. Apologies if you are in fact on the ball.

owitemisermusa

jeff2029 wrote: »

Im agree with You...Mr.Dan..

Hey man,

Stop spamming! Silly one-liners, illegal signature.....

Moderators!!!!!!!!!!!!!!!!!!!!!!!!!

Dunno if he's been reported, I can't seem to work out why the report post button doesn't work for me. Someone please report him.

TAG

Just a quick update. Had a letter from the solicitors today saying that they were having to return the funds back to our new provider as they could only hold them for a certain length of time.

Still can't contact the solicitors as phone still permanatley engaged. So we have no idea whats happening and when.

Funny thing is though, when we remortgaged two years ago the same solicitors provided the free legal service and they were great. Everything went through on the dot.

jediknightwarrior

Hi, just curious. Did the Abbey appoint Breezeplus?

Gailk

Oddly, having emailed a complaint to a manager last night, all of my documents have miraculously turned up. They emailed at 9.15 this morning to tell me.
Odd that??

Motty1971

Apologies for the length of the post especially being my first one but I don't know how to proceed at the moment

I have just had a bad experience with free legals which at the moment is going to leave me £250 out of pocket and don't know how much of it is my fault.

Remortgaged our property and also wanted to borrow £750 to pay off our settee at the same time.

We went with a mortgage broker (Who charged a fee. Yes I know I should have looked for one who didn't charge) and the broker asked how much was outstanding on my existing loan I did not know the figure off hand so looked through my paperwork to see if I could find a recent figure.

I found a document which the broker said he would use to go from and take things from there everything was going well until last Friday I had a phone call from the new lenders solicitors and they told me the settlement figure from my old lender and that there was a shortfall.

This is the point where I feel my problems are my fault I assumed that when they told me there was a surplus of £242 that everything was paid and that was what we had left and told them to go ahead. It wasn't the £750 we were hoping for, but some money to come back none the less.

I received a letter from the Brokers firm telling us that they will be taking their fee from my bank account (Signed a consent form to allow this) as they had not received it. That fee is £495 and that has to come from the surplus we received, which was the £242.

I can imagine that there will be some people who read this post and laugh their heads off at just how daft I have been assuming that everything would go smoothly and my broker would take care of anything but my question is would making a complaint get me anywhere? Or is this something I have to put down to experience, go £250 out of pocket and try and learn as much as possible from.

I would appreciate any help if possible about what to do next

Gailk

Hi, I don't think its a silly question and I ain't laughing.
Unfortunately though, I also don't know the answer.
I take it the mortgage completed last Friday, when they phoned?
If so I don't see what else you can do but be out of pocket. If they were just phoning to tell you there will be a shortfall when you complete in the future, could the mortgage company advance the extra?
We are in the process of remortaging and have underestimate our redemption figure - the new lender are just increasing the amount we were taking and are issuing a new offer for a different amount. I think!!
Hope someone with some experience can help you with it.

Motty1971

Yes they completed on the Friday and when I phoned my brokers company to see if they could add anything extra on to cover it they said they couldn,t because the mortgage, as they put it had completely completed and couldn't alter it.

They are trying to work on ways for me to pay the extra money by instalments as opposed to taking the whole amount in one go .

The ironic thing is if this had happened as a result of me arranging the mortgage myself I would be £242 up.

Gailk

I don't suppose there is anything you can do if it is completed.
Why didn't the broker add his fee to your original mortgage amount I wonder?
Hope you get it sorted.

Motty1971

I phoned the mortgage company who my broker works for today as requested and I asked if they had the piece of paperwork that I am refering to in this part of my post above.

[quote=Motty1971;10070075
I found a document which the broker said he would use to go from and take things from there everything was going well until last Friday I had a phone call from the new lenders solicitors and they told me the settlement figure from my old lender and that there was a shortfall.[/quote]

Now when my broker asked me how much was outstanding I told him that it was £47090 I don't know why but that's the amount I gave him. When I was speaking to the mortgage company today they said they had that document at their office and it said that the figure on there was £48079.56 which is the figure he should have looked at. Now I don't know where I got the lower figure from but should the broker have checked the amount on that document and does this change my situation or am I still at fault for giving him an incorrect figure?

Thank you in advance for any help you can offer.