Mortgage advice please
Discussion
Have been in the process of buying my Council house recently, all going well, signed transfer documents last week etc.. Came in from work today to find a letter from solicitors.
Reads as follows:
Further to previous correspondence, we have been informed that due to abbey being taken over by santander, they have removed us from their panel of solicitors.
This means we are unable to deal with your mortgage offer from abbey and they will have to re-issue the same to another firm of solicitors. We can still act for you in the purchae of the property however.
Your mortgage advisor will need to contact abbey immediatley and ask for the solicitors details to be changed. I am not aware of whom your mortgage advisor is and therefore I would be grateful if you could arrange for them to contact me immediatley.
Your sincerly XXXXX
Now, i will obviously contact my advisor asap, but will this mean that I have to find another solicitor and start over again?
We have already paid our solicitor a few hundred £'s , I take it tthey will be asking more to cover what they've done up to this point?
So close, now yet so far
Reads as follows:
Further to previous correspondence, we have been informed that due to abbey being taken over by santander, they have removed us from their panel of solicitors.
This means we are unable to deal with your mortgage offer from abbey and they will have to re-issue the same to another firm of solicitors. We can still act for you in the purchae of the property however.
Your mortgage advisor will need to contact abbey immediatley and ask for the solicitors details to be changed. I am not aware of whom your mortgage advisor is and therefore I would be grateful if you could arrange for them to contact me immediatley.
Your sincerly XXXXX
Now, i will obviously contact my advisor asap, but will this mean that I have to find another solicitor and start over again?
We have already paid our solicitor a few hundred £'s , I take it tthey will be asking more to cover what they've done up to this point?
So close, now yet so far
Usually, the same solicitor (i.e. the one you instruct) acts for you in the purchase but also for the lender in registering their charge.
Your solicitor in no longer on the Santander panel and so Santander will require you to use another solicitor who IS on their panel in order to register their charge.
How much of a faff this is in practice, I'm not sure. I'm a litigator not a property lawyer so have no practical experience of how it impacts on things when this happens. I can't imagine it's going to be THAT much of an issue.
Your solicitor in no longer on the Santander panel and so Santander will require you to use another solicitor who IS on their panel in order to register their charge.
How much of a faff this is in practice, I'm not sure. I'm a litigator not a property lawyer so have no practical experience of how it impacts on things when this happens. I can't imagine it's going to be THAT much of an issue.
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