To ask anyone with any legal knowledge for advice about missing money from remortgage- posting for traffic as I'm panicking

[theduchessstill]

I have just done a transfer of equity which involved me borrowing an extra sum from my mortgage provider to buy ex out. He was due to receive about 3/4 of the total I am borrowing and I am getting the other quarter to cover marital debts he left me with. Completion was on Friday - I missed the call from the solicitor but a voice mail was left to that effect.

I texted ex to check the money had gone in but he has only just replied - it hasn't gone in. So I've just checked my account and a sum about half of what I was expecting has gone in!

Any ideas what could have happened? I don't think I have arranged for them to automatically deduct any fees I owe them from the total, but even if I had, it would be nowhere near the amount that is missing I'm sure. Moreover, that wouldn't explain where ex's money is. Obviously I'll ring them first thing, but I was wondering whether anyone had any advice to calm me down in the meantime. Also for me to maybe tell ex, as he sent a bit of a ranty text and I feel more will follow.

If the mortgage money only came through on Friday there may will not have been time to sort out its onward transfer.

Yes - or it maybe hasn't cleared? But still doesn't explain where half my money has gone. ..

So utterly sick of this shit now. And received another arsey text now asking where the money is. FFS, if he'd not taken 3 days to reply to me I could have rung them on Friday and we may know what was going on .

It sounds like his funds have not cleared. Did he ask and agree to pay for a telegraphic transfer?

With regards to yours, did your redemption statement show that your most recent mortgage payment has cleared? Some lenders take 10 days to clear your payment. If it wasn't on the redemption statement you will get your last mortgage payment back.

With regards your ex - he needs to speak to the solicitor, you do not have his money, the solicitor does. He should have rang them Friday.

What day did you pay your last mortgage payment?

Was a solicitor involved? It could be sat in their account.

My next payment would be due next Thursday so I would have thought the previous one would have cleared by now? Do you mean the amount showing may be minus one payment of mortgage? That would still leave me £2.5K short!

I keep worrying that I've made some awful mistake on the paperwork that will never be resolved!

Was there an arrangement fee on the remortgage that they have deducted or any stamp duty payable on the transfer?

At any point did they give you a breakdown of what you owed them and what would be left and going where?

We got a second mortgage going from £190k to £260k and for about a week I had two mortgages at that value before the bank got around to clearing the 190k one off my account! Even though I new it was wrong it was horrid. Hopefully it's just an admin cock up.

So I owe my divorce lawyer about £800. They sent me the final bill last week and there is no mention of it coming from the remortgage. From what I can see from the conveyancing quote they sent me, I owe about £500. So way less than the money missing.

I'm pretty sure there were no other mortgage fees - just a small one I had to pay up front.

Stamp duty I had no idea about! Do you have to pay that when adding a small amount onto an existing mortgage??

did you ask your solicitor to pay this to your ex partner directly

Yes - I had to supply the two accounts the surplus was to paid into and specify the amounts going into each. Which, thinking about it, is another reason why this is odd. Surely, if I'd forgotten to include fees/deductions, they would have needed to ask me whether to deduct them from my total or from ex's?

Fees/deductions would be apportioned to your share, not ex's.
Stamp duty is payable on the consideration you paid to your ex for his share, so depending on the amount you paid this could well be a factor.
Are the divorce solicitors also dealing with the conveyancing? If the same firm dealt with both, or if the conveyancing solicitors paid the remortgage funds on to the divorce solicitors for onward payment to your ex's solicitors, they may have deducted the divorce legal fees from your surplus.
Regarding your ex's share, if it was late Friday afternoon I'll bet it's still in his solicitor's account awaiting payment to him (most firms have a cut-off between 2pm and 3pm).

Have checked through all the mortgage paperwork and there are no fees to be paid for the remortgage. It also says they won't take first payment until about 10 days after completion. Nothing has ever been said about stamp duty, but having just checked on the government site it says you don't need to pay it if property is transferred as a result of divorce.

The fees I owe the firm amount to about £800, but I am short about £3K. I just don't understand why they would transfer a portion of the money.

Ex has no solicitor so it will go straight to him - though I bet his share is waiting to be cleared.

I just wish things could be straightforward.