Reclaiming loss from conveyancing solicitor
Discussion
My two year fixed term mortgage ended on my buy to let at the end of February and moved onto the standard variable rate. I was well aware of this so keen to get it sorted I got a new mortgage offer in mid-January and instructed a solicitor to prepare the required report etc. for the mortgage company.
They sent me the initial forms and requests for information to me which I dutifully returned in the first week of February. I sent this recorded so I have proof of delivery. I chased them a number of times through February and did not hear anything until 26th (two days before my fixed expired) asking me for the initial imbusements which I paid immediately on request. When my fixed expired my monthly repayments went up circa £280 (difference of variable rate and the new fixed rate I was to move onto).
I have chased them repeatedly through March and have been told that I will not complete until late next week by which time I will have paid another increased monthly repayment. At this point I will be down circa £560.
They have blamed everybody from the mortgage company, management company, search providers, NHBC etc. for the delays. I get the feeling they don't do anything until I chase. The three week delay from them receiving my forms and requesting payment so they could start the searches in particular has meant I have dropped into another month.
In my view, it shouldn't take nigh on 12 weeks to complete on a BTL mortgage and so I feel I have taken loss to at least £280 if not the full £560 in extra interest I have repaid.
What recourse do I have to reclaim my losses from them and by which process? If I remember correctly they will not complete until they have been paid in full so they have me over a barrel in terms of just not paying them.
As an aside, this is my third experience of conveyancing solicitors in three years (flat purchase with no chain, house purchase with no chain and remortgage). In all cases even though I have been told "it is very simple, it won't take long" it has taken weeks and weeks more than promised. The house purchase in particular was painful with the offer being accepted in late July and not moving in until mid October! Have I just been unlucky or are they all equally hopeless?
They sent me the initial forms and requests for information to me which I dutifully returned in the first week of February. I sent this recorded so I have proof of delivery. I chased them a number of times through February and did not hear anything until 26th (two days before my fixed expired) asking me for the initial imbusements which I paid immediately on request. When my fixed expired my monthly repayments went up circa £280 (difference of variable rate and the new fixed rate I was to move onto).
I have chased them repeatedly through March and have been told that I will not complete until late next week by which time I will have paid another increased monthly repayment. At this point I will be down circa £560.
They have blamed everybody from the mortgage company, management company, search providers, NHBC etc. for the delays. I get the feeling they don't do anything until I chase. The three week delay from them receiving my forms and requesting payment so they could start the searches in particular has meant I have dropped into another month.
In my view, it shouldn't take nigh on 12 weeks to complete on a BTL mortgage and so I feel I have taken loss to at least £280 if not the full £560 in extra interest I have repaid.
What recourse do I have to reclaim my losses from them and by which process? If I remember correctly they will not complete until they have been paid in full so they have me over a barrel in terms of just not paying them.
As an aside, this is my third experience of conveyancing solicitors in three years (flat purchase with no chain, house purchase with no chain and remortgage). In all cases even though I have been told "it is very simple, it won't take long" it has taken weeks and weeks more than promised. The house purchase in particular was painful with the offer being accepted in late July and not moving in until mid October! Have I just been unlucky or are they all equally hopeless?
Kapenta said:
Why do you need a solicitor to do anything when you change mortgage lenders?
Unless I'm misunderstood, you haven't purchased a new property but are refinancing an existing one?
Because the old charge needs removing from Title, the new one placing on Title, the old lender repaying and the new lender will require a report on Title from a solicitor or licenced conveyancer.Unless I'm misunderstood, you haven't purchased a new property but are refinancing an existing one?
tapereel said:
It will be fair to say you should have started the arrangement of the new mortgage sooner. After all you have had 2 years to make the arrangements.
You have no chance IMHO.
Mortgage offers don't last forever and sometimes you need to wait for the best rates. With this bunch of jokers I've already had to extend the offer. I did start the process two months before my fixed expired which is ample time to sort out a simple refinance. Full on purchases have completed in less time and the three weeks when they did nothing at all has definitely cost me. You have no chance IMHO.
Kapenta said:
Why do you need a solicitor to do anything when you change mortgage lenders?
Unless I'm misunderstood, you haven't purchased a new property but are refinancing an existing one?
The new lender insisted on a full set of searches. Silly I know when it's been done less than two years beforehand but those were their conditions in order for me to get an offer at the best rate. I'm not sure this is common but I have heard of other people who've needed it. Unless I'm misunderstood, you haven't purchased a new property but are refinancing an existing one?
_rubinho_ said:
My two year fixed term mortgage ended on my buy to let at the end of February and moved onto the standard variable rate. I was well aware of this so keen to get it sorted I got a new mortgage offer in mid-January and instructed a solicitor to prepare the required report etc. for the mortgage company.
They sent me the initial forms and requests for information to me which I dutifully returned in the first week of February. I sent this recorded so I have proof of delivery. I chased them a number of times through February and did not hear anything until 26th (two days before my fixed expired) asking me for the initial imbusements which I paid immediately on request. When my fixed expired my monthly repayments went up circa £280 (difference of variable rate and the new fixed rate I was to move onto).
I have chased them repeatedly through March and have been told that I will not complete until late next week by which time I will have paid another increased monthly repayment. At this point I will be down circa £560.
They have blamed everybody from the mortgage company, management company, search providers, NHBC etc. for the delays. I get the feeling they don't do anything until I chase. The three week delay from them receiving my forms and requesting payment so they could start the searches in particular has meant I have dropped into another month.
In my view, it shouldn't take nigh on 12 weeks to complete on a BTL mortgage and so I feel I have taken loss to at least £280 if not the full £560 in extra interest I have repaid.
What recourse do I have to reclaim my losses from them and by which process? If I remember correctly they will not complete until they have been paid in full so they have me over a barrel in terms of just not paying them.
As an aside, this is my third experience of conveyancing solicitors in three years (flat purchase with no chain, house purchase with no chain and remortgage). In all cases even though I have been told "it is very simple, it won't take long" it has taken weeks and weeks more than promised. The house purchase in particular was painful with the offer being accepted in late July and not moving in until mid October! Have I just been unlucky or are they all equally hopeless?
I'm confused as to why you only allowed six weeks for a remortgage (mid Jan to end Feb), Feb being a short month as well, but then go on to say in the same post that every past experience you've had of conveyancers has been weeks and weeks longer than expected. Six weeks is optimistic in my experience. Especially when, also in my experience, with a remortgage they force you to use their legal partner for everything, so they're even more sThey sent me the initial forms and requests for information to me which I dutifully returned in the first week of February. I sent this recorded so I have proof of delivery. I chased them a number of times through February and did not hear anything until 26th (two days before my fixed expired) asking me for the initial imbusements which I paid immediately on request. When my fixed expired my monthly repayments went up circa £280 (difference of variable rate and the new fixed rate I was to move onto).
I have chased them repeatedly through March and have been told that I will not complete until late next week by which time I will have paid another increased monthly repayment. At this point I will be down circa £560.
They have blamed everybody from the mortgage company, management company, search providers, NHBC etc. for the delays. I get the feeling they don't do anything until I chase. The three week delay from them receiving my forms and requesting payment so they could start the searches in particular has meant I have dropped into another month.
In my view, it shouldn't take nigh on 12 weeks to complete on a BTL mortgage and so I feel I have taken loss to at least £280 if not the full £560 in extra interest I have repaid.
What recourse do I have to reclaim my losses from them and by which process? If I remember correctly they will not complete until they have been paid in full so they have me over a barrel in terms of just not paying them.
As an aside, this is my third experience of conveyancing solicitors in three years (flat purchase with no chain, house purchase with no chain and remortgage). In all cases even though I have been told "it is very simple, it won't take long" it has taken weeks and weeks more than promised. The house purchase in particular was painful with the offer being accepted in late July and not moving in until mid October! Have I just been unlucky or are they all equally hopeless?
t than usual, because they really work for your new lender not you.I have never had to appoint my own solicitor to do searches etc for a remortgage, and I never heard of a mortgage offer expiring that quickly either (you mention in another post that you had to extend it). Maybe the new deal you've sourced is a little too good to be true and the downside of it being so cheap is that their conveyancing partner is extra rubbish.
Must have been on a phenomenal deal or a massive property if transferring to the SVR raises the payments as much as £280 a month.
At least you can put these extra finance costs on your tax return and once offset against profit they'll help reduce your tax bill slightly so your overall loss won't be the full amount.
Firstly don't use the cheapest possible conveyancer, next ask a few local estate agents who you should use, they will steer you away from the slow and pompous.
Ask to see the correspondence file, that will highlight any delays
Lastly judging by the increase in mortgage payment you have a reasonable size mortgage, treat it as a business with a six figure assett not as a hobby and use a decent lawyer
Ask to see the correspondence file, that will highlight any delays
Lastly judging by the increase in mortgage payment you have a reasonable size mortgage, treat it as a business with a six figure assett not as a hobby and use a decent lawyer
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