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Mortgage company holding up exchange

5 replies

FatBottomedGal · 05/06/2017 10:33

I posted before a while ago about the issues my DM was having with selling her house - flash forward a couple of months and she's now accepted an offer on hers and had an offer accepted on the house of her dreams. It was all going along fine, everyone wanted a quick move; however a couple of weeks ago, the lady at the bottom of the chain changed her mortgage from buy to let to standard, and this has held everything up.

She was meant to exchange on 19/05 and move on 26/05, but the exchange has been pushed back constantly with little explanation for why. My DM's solicitor has said that these mortgage people are refusing to speak to them or the estate agents to explain what's taking so long, so everyone is just in the dark about what's happening.

Has this happened to anyone else? Is there anything my DM can do to find out what's happening or how long it will take? The guy who owns the house she's buying is very dramatic and keeps threatening to pull out if they don't exchange soon (although this will put him back to square one so I don't think he will). It's terrifying my DM, she's been through so much in the past year that I just want her to be settled and happy now Sad

Any advice would be amazing!

OP posts:
FatBottomedGal · 05/06/2017 14:47

Anyone?

OP posts:
MovingOnUpMovingOnOut · 05/06/2017 14:49

I expect the buyer at the bottom is struggling to get a mortgage.

Your mother's solicitor needs to chase the buyer's solicitor up. Your mother's estate agent needs to earn their money chasing up the buyer.

Has the survey and conveyancing been done yet?

MovingOnUpMovingOnOut · 05/06/2017 14:51

Forget going directly to the mortgage company - legally they cannot discuss this with anyone other than their client without the client's express permission.

Hence my advice to talk to the client (the buyer).

FatBottomedGal · 05/06/2017 15:34

She had an email today from her solicitor to the owner of the new house's solicitor saying 'Are you aware of the mortgage offer at the bottom of the chain is now held? Will this matter exchange contracts today?' but we're not sure what this means!

OP posts:
specialsubject · 05/06/2017 18:14

So phone and ask. Solicitor works for her.

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