Any Solicitors here with knowledge on Mortgages etc... HELP!

22 replies
Found 21st Nov 2008
Hi all, long shot but i really need to find out if my solicitors are dragging their feet or not.
I have been told by my mortgage company that they dont need to do land search etc because it is remortgage.... bascially just send off the deeds as the mortgage offer is waiting and ready..
Im going mad!

  1. Misc
  2. Mortgage
22 Comments

the remortgage offer sent to the solicitors should state whether or not the searches are required, if not then the solicitor is probably complying with the CML handbook and the lender's instructions in that

If the searches are required and they will take ages the solicitors should have highlighted the option of local search replacement indemnity insurance and provided your lender finds this acceptable (which the vast majority do) will speed things up as you purchase the policy on the day of completion

roryk83;3525909

the remortgage offer sent to the solicitors should state whether or not … the remortgage offer sent to the solicitors should state whether or not the searches are required, if not then the solicitor is probably complying with the CML handbook and the lender's instructions in thatIf the searches are required and they will take ages the solicitors should have highlighted the option of local search replacement indemnity insurance and provided your lender finds this acceptable (which the vast majority do) will speed things up as you purchase the policy on the day of completion



Spot on advice there PC

Who is your new lender??

Original Poster

woolwich

apparently they didnt need anything done yet my solicitor is doing a search.. i am so confused being told different things.

Supermod

No search indemnity policy with Norwich Union is £19 up to value of about £300,000 and then it goes to £28 as a general rule of thumb.
Have a look at this link and choose your lender from the drop down list...
cml.org.uk/han…spx
If your lender doesnt require a Local Authority Search (LLC1 and CON29R) then you should just apply for an imdemnity policy.

Supermod

pcnutta;3525997

woolwichapparently they didnt need anything done yet my solicitor is … woolwichapparently they didnt need anything done yet my solicitor is doing a search.. i am so confused being told different things.



Had they asked you for upfront fees?
Some "old school" solicitors will always do a Local Search as this is what they are used to and they see indemnity policy's as a shortcut which they dont like.
Personally, I always obtain an indemnity policy for remortgages.

Original Poster

Yep i had to take over 160 quid

Supermod

From the CML handbook for Barlcays mortgages trading as Woolwich:

5.2.5.2- Do you accept search insurance, if so what are your requirements?

Yes, provided adequate cover is arranged, at the Conveyancers own risk

Original Poster

God im stressing right out, this has to be completed by 5th Dec or i have to pay my ex 8% in costs!

Supermod

pcnutta;3526067

God im stressing right out, this has to be completed by 5th Dec or i have … God im stressing right out, this has to be completed by 5th Dec or i have to pay my ex 8% in costs!



Call them and say...

"Why was I not given the option of an indemnity insurance considering this is only a remortgage and not a new mortgage and this would have saved me £140".

Original Poster

Ive been ringing, shes not there apparently back after lunch..... hmm

Original Poster

could i ring another solicitor for independent advice on this? or would they wanna charge me as well!

pcnutta;3526146

could i ring another solicitor for independent advice on this? or would … could i ring another solicitor for independent advice on this? or would they wanna charge me as well!



You are getting it from MJ hun - ring them and give them what for

magicjay1986;3526022

Had they asked you for upfront fees?Some "old school" solicitors will … Had they asked you for upfront fees?Some "old school" solicitors will always do a Local Search as this is what they are used to and they see indemnity policy's as a shortcut which they dont like. Personally, I always obtain an indemnity policy for remortgages.



yeah, the old school guys do like their local searches, they consider insurance companies a bit of a risk as like private search providers there is nothing to guarantee that they'll be in existence when the time comes to claim whereas a local authority will be in some form or another


Instruct your solicitor to obtain local search insurance, if they are unwilling to as they deem it a risk to their practice (for whatever reason) instruct another firm and express the urgency and the fact you want an indemntiy insurance policy from the outset, this whole transaction could be done in days if required

Original Poster

oohhh MJ are you solicitor.. sorry didnt realise..

Thanks all.. ive really had enough ........

xxxx

pcnutta;3526187

oohhh MJ are you solicitor.. sorry didnt realise..Thanks all.. ive really … oohhh MJ are you solicitor.. sorry didnt realise..Thanks all.. ive really had enough ........xxxx





Email them if they are out to lunch and tell them you are not happy. I always use indemnity insurance for the Woolwich so there is no reason why they shouldn't

Original Poster

just spoke, not that i understand much, lol
but im going in on tues to sign, so aiming to complete on following monday.
Still waiting on my exs solicitor to approve the draught transfer thing? we cant sign until hes approved it...

pcnutta;3526278

just spoke, not that i understand much, lolbut im going in on tues to … just spoke, not that i understand much, lolbut im going in on tues to sign, so aiming to complete on following monday.Still waiting on my exs solicitor to approve the draught transfer thing? we cant sign until hes approved it...



sounds about right, if your on good terms with your ex tell him to express the urgency to his solicitor otherwise they may sit on it a couple of days and delay things further. Your solicitor should have expressed the urgency in his letter enclosing the draft transfer anyway

Original Poster

They prob sitting on it cos if we dont complete by 5th dec my ex gets another 2k from me!!
Surly i wouldnt have to pay if i can prove they been sitting on it since 14th?

pcnutta;3526389

They prob sitting on it cos if we dont complete by 5th dec my ex gets … They prob sitting on it cos if we dont complete by 5th dec my ex gets another 2k from me!!Surly i wouldnt have to pay if i can prove they been sitting on it since 14th?



hhhmmm, not much you can really do there, your solicitor could send them a letter stating that they will be seeking your shortfall from them due to an unreasonable delay but it is extremely unlikely to suceed

Supermod

Is this pursuant to a court order?
Any prudent solicitor would comply with any deadline set and avoid you incurring any further expenses.
They should be able to give you all the time you need in this current quiet climate.

Original Poster

yeah hun it is court order.

Supermod

pcnutta;3526654

yeah hun it is court order.



Ok. The court order isnt necessarily set in stone as it would appear.
Make sure your solicitors liaise with your ex's solicitor and agree between the two of you that the balance due wont have to be paid.
It can be done.
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